#United States #New York #Pomerantz #DENTSPLY #XRAY

Pomerantz Law Firm Issues Class Action Alert for DENTSPLY SIRONA Inc.

The renowned Pomerantz Law Firm has brought attention to a recent class action lawsuit filed against DENTSPLY SIRONA Inc. (NASDAQ: XRAY), targeting investors who may have suffered financial losses. This lawsuit reflects broader concerns regarding potential securities fraud and other unlawful business activities conducted by the company and certain executives.

Overview of the Class Action

The class action is focused on the allegations that DENTSPLY SIRONA and its officers did not act in the best interest of shareholders, leading to substantial financial losses. Investors are encouraged to reach out to Danielle Peyton at Pomerantz via email at [email protected] or by phone at 646-581-9980. It's crucial for those affected to deliver their contact details, including their mailing address and the number of shares acquired for facilitating their inclusion in the lawsuit.

Important Dates and Deadlines

DENTSPLY shareholders who purchased or otherwise acquired the company's securities during the specified Class Period have until January 27, 2025, to apply to the Court to be appointed as Lead Plaintiff in this case. Full details about the complaint and how to join the class action can be accessed through the Pomerantz Law Firm's website.

Background Information on DENTSPLY SIRONA

DENTSPLY SIRONA has been embroiled in controversy following its substantial investment. In December 2020, the firm expended $1.04 billion to acquire Byte, a producer of clear dental aligners. However, the situation took a turn for the worse on October 24, 2024, when DENTSPLY opted for a voluntary suspension of the sales and marketing of Byte Aligners and Impression Kits. The company stated that the decision followed a review of regulatory requirements linked to its product line.

On the same day, DENTSPLY reported to the U.S. Securities and Exchange Commission that this suspension was a precautionary measure. Nonetheless, it anticipates recording non-cash charges for the impairment of goodwill in the category of $450-$550 million, with a significant downturn in the fair value for the Orthodontic Aligner Solutions segment, attributed to unfavorable state regulatory trends affecting its direct-to-consumer aligner offerings.

Financial Fallout

The aftermath of this development was immediate and severe. Following the announcement, DENTSPLY's stock price witnessed a sharp decline of $1.10 per share, marking over a 4% drop and closing at $23.31 the very next day. Further financial troubles surfaced when DENTSPLY revealed its Q3 2024 earnings on November 7, 2024. The firm reported a staggering non-cash charge of $495 million within its Orthodontic and Implant Solutions segment. Additionally, it revised its sales outlook downward significantly, forcing the company to reevaluate its business strategy regarding Byte, including the possible discontinuation of its operations.

Consequently, investor confidence faltered, leading to an astounding $6.72 per share decline (over 28%) by the close of trading on November 7, dropping its stock price to $17.26.

About Pomerantz LLP

Pomerantz LLP stands as one of the most prestigious firms in corporate, securities, and antitrust class action litigation. Established over 85 years ago by the late Abraham L. Pomerantz, known as a pioneer in securities class action law, the firm continues to uphold its legacy by advocating for the rights of victims of corporate misconduct and securities fraud. Pomerantz has secured numerous multimillion-dollar recoveries for class members in previous lawsuits.

For further assistance and inquiries, affected shareholders are encouraged to connect with Pomerantz for more insights and guidance in these proceedings. Keep abreast of developments as the case unfolds.

Conclusion

As DENTSPLY SIRONA navigates through legal challenges and significant financial setbacks, investors and stakeholders must stay informed about developments in the class action lawsuit. Addressing potential losses proactively by engaging with legal counsel could pave the way for recovering damages sustained during these tumultuous periods.