SmileDirect investors sue banks after the company’s collapse
Investors are suing banks over SmileDirectClub’s collapse, challenging whether the banks’ role can be legally pinned to the 2019 IPO promise for cheap mail-order aligners.
By Jenna GreeneWhen SmileDirectClub went public in a billion-dollar IPO in 2019, the online dentistry company promised a cheap, convenient way to straighten teeth by selling mail-order plastic aligners for a fraction of what most orthodontists charge.But the smile soon faded.
The Nashville, Tenness…