Standard & Poor’s upgraded Align’s shares to “hold’’ and raised its price target to $13 per share, from $6, after the Santa Clara, Calif., company settled a lawsuit.
(Dana Smillie/ Bloomberg News/ File 2007)
MARKET MOVERS
Align Technology straightens out a problem
Standard & Poor’s upgraded Align’s shares to “hold’’ and raised its price target to $13 per share, from $6, after the Santa Clara, Calif., company settled a lawsuit.
(Dana Smillie/ Bloomberg News/ File 2007)
Shares of Align Technology Inc. jumped after the company settled a patent lawsuit regarding its Invisalign teeth-straightening system. Align agreed to issue $77 million in stock to Danaher Corp. and pay about $13 million to Danaher’s Ormco business. Align and Ormco will also collaborate to make an orthodontic product that combines their technologies. In June, a jury decided Invisalign had violated a Danaher patent.
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