Pomerantz Law Firm Encourages DENTSPLY SIRONA Inc. Shareholders to Join Class Action Lawsuit

Pomerantz Law Firm Alerts DENTSPLY SIRONA Shareholders to Class Action Lawsuit

Pomerantz LLP, a leading law firm in securities class action litigation, has officially brought a class action lawsuit against DENTSPLY SIRONA Inc. (NASDAQ: XRAY), urging shareholders who have suffered losses on their investments to come forward. This legal action is timely, as the firm emphasizes the importance of participating before the impending deadlines.

Earlier this year, DENTSPLY made headlines when it announced a significant acquisition that raised eyebrows—not just for the scale of the deal but also for the size of the losses reported since. On December 31, 2020, the company acquired Byte, a clear dental aligner manufacturer, for an astounding $1.04 billion in cash. However, recent news surrounding this acquisition raises questions about the company's operational integrity and financial health.

On October 24, 2024, DENTSPLY announced a voluntary halt in the sales and marketing of its Byte Aligners and Impression Kits while it reviewed certain regulatory requirements. This announcement was perceived as a precautionary measure, yet it quickly led to significant implications for the company. Shortly after, DENTSPLY disclosed it expected to incur non-cash impairment charges ranging from $450 million to $550 million for its Orthodontic and Implant Solutions segment. This revelation sent shockwaves through the market, and on October 25, 2024, DENTSPLY’s stock price plunged over 4%, closing at $23.31 per share.

The situation worsened as DENTSPLY reported its financial results for the third quarter of 2024 on November 7, revealing a staggering goodwill impairment charge of nearly $495 million. Additionally, the company revised its expectations for the year, projecting organic sales to decline between 3.5% to 2.5%, significantly lower than prior forecasts. Investors who had hoped for recovery were left reeling as DENTSPLY's stock tumbled more than 28%, ultimately closing at $17.26 per share on the same day.

The class action lawsuit focuses on claims that DENTSPLY and some of its executives may have engaged in securities fraud and other unlawful business practices related to these circumstances. Shareholders who acquired DENTSPLY securities during the specified class period are urged to reach out to Danielle Peyton of Pomerantz LLP. Potential lead plaintiffs have until January 27, 2025, to file their motions with the court.

Pomerantz Law Firm has an established reputation as one of the premier firms in the field of corporate and securities litigation, tracing its origins back over 85 years. The firm has successfully advocated for the rights of shareholders facing misconduct and fraud, achieving significant recoveries on their behalf. Interested shareholders can learn more about the lawsuit and their rights by contacting the firm directly or visiting www.pomerantzlaw.com.

As the legal proceedings develop, shareholders of DENTSPLY SIRONA Inc. are on high alert, facing a unique and pivotal challenge in the company's controversial history. The timeline ahead is critical, and Pomerantz LLP urges affected parties to stay informed and involved during this tumultuous period.