#United States #New York #Class Action #Securities Fraud #DENTSPLY

Class Action Alert for DENTSPLY SIRONA Inc. Shareholders

Pomerantz LLP recently announced a significant development for shareholders of DENTSPLY SIRONA Inc. (NASDAQ: XRAY). A class action lawsuit has been filed against the company, which has raised serious concerns about its business practices and potential securities fraud. If you are an investor who has suffered losses in this situation, now is the time to take action.

Background of the Case

On December 31, 2020, DENTSPLY acquired Byte, a manufacturer of clear dental aligners, for $1.04 billion. This acquisition, while significant, has come under scrutiny after recent revelations about DENTSPLY's sales and marketing operations.

On October 24, 2024, the company voluntarily suspended sales and marketing for its Byte Aligners and Impression Kits while it reviews specific regulatory requirements. In a filing with the U.S. Securities and Exchange Commission (SEC), DENTSPLY stated that the suspension was a precautionary measure. Unfortunately, this revealed a troubling forecast for the future, including a projected non-cash charge of $450-$550 million due to the decline in fair value for its Orthodontic Aligner Solutions reporting unit.

After these disclosures, DENTSPLY's stock experienced a sharp decline, falling by $1.10 per share, which translates to more than a 4% drop. The market reacted unfavorably, leading investors to seek answers on the viability of their shares.

Continued Declines and Financial Reporting

On November 7, 2024, DENTSPLY released its third-quarter financial results, which disclosed a staggering non-cash charge of approximately $495 million related to goodwill impairment. Notably, the revised sales outlook indicated a decline in expected organic sales ranging from -3.5% to -2.5%. The company's leadership even hinted at the possibility of discontinuing some or all of Byte's business, further alarming shareholders.

The consequences of these developments were severe; after this news disbursed, DENTSPLY’s stock plummeted an astonishing $6.72 per share, amounting to over a 28% drop, which resulted in prices closing at $17.26 per share.

What Shareholders Need to Do

Pomerantz LLP emphasizes the importance of acting quickly. If you were a DENTSPLY shareholder during this tumultuous period and experienced financial losses, you have until January 27, 2025, to request the Court appoint you as the Lead Plaintiff in the ongoing class action.

To get involved, concerned shareholders should contact Danielle Peyton at Pomerantz LLP. It's advisable to provide relevant information, including your mailing address, telephone number, and the number of shares you purchased to assist in your registration for the case.

About Pomerantz LLP

Pomerantz LLP has a long-standing reputation as a premier firm's corporate, securities, and antitrust litigation. Founded by the esteemed Abraham L. Pomerantz, the firm has been a pioneer in class action law for over 85 years, fighting valiantly for victims of securities fraud and corporate misconduct.

For more insights or to explore joining the class action, visit www.pomerantzlaw.com.

Conclusion

DENTSPLY SIRONA Inc. shareholders should stay informed and take decisive action following the recent legal developments. The potential for recovery is critical, and participating in a class action could be a step toward reclaiming losses associated with these unfortunate events. Don’t hesitate to seek assistance from knowledgeable legal professionals and protect your rights as an investor.