SmileDirectClub appealing $63M arbitration decision with Align Technology
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SmileDirectClub (NASDAQ:SDC) said it would appeal an arbitration decision that awarded $63M to rival Align Technology (NASDAQ:ALGN) in a dispute over an exclusive supply agreement. 
That award was confirmed by a California court on Aug. 23.
The issue stems from an agreement the two companies signed in 2016 but which was terminated in 2019. Align (ALGN) purchased a 19% ownership stake and became the exclusive third party supplier of aligners to SmileDirectClub (SDC).
SmileDirectClub (SDC) has alleged that Align (ALGN) violated the agreement by seeking to copy its business model through its Invisalign program. An arbitrator directed Align (ALGN) to shutter its retail locations, relinquish its position in SmileDirectClub, and prohibited it from competing until August 2020.
That month, Align (ALGN) filed an arbitration demand against SmileDirectClub (SDC) for breach of contract. An arbitrator ruled in Align's (ALGN) favor in October 2022, setting the $63M final award in May of this year.

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