Levi & Korsinsky Launches Class Action Against Dentsply Sirona for Alleged Securities Fraud
On January 21, 2025, Levi & Korsinsky LLP announced that they are filing a class action lawsuit against Dentsply Sirona Inc. (NASDAQ: XRAY), a well-known company in the dental supplies industry. The lawsuit seeks to recover financial losses for investors who were adversely affected by alleged securities fraud between May 6, 2021, and November 6, 2024. This legal action highlights serious accusations regarding the business practices of Dentsply, particularly concerning its direct-to-consumer aligner product, Byte.
The class action lawsuit claims that Dentsply engaged in deceptive practices that led to significant investor losses. According to the complaint, the company made false statements and concealed critical information related to its internal operations and the promotion of Byte. Specifically, it is alleged that Dentsply's marketing strategy targeted low-income individuals lacking access to proper dental care, education, and insurance. These patients often had underlying dental conditions that rendered them ineligible for treatment using Byte.
Moreover, the lawsuit claims that Dentsply's aggressive push for sales led to sales representatives promoting the Byte aligner solution to patients who were not appropriate candidates. This resulted in a flawed patient onboarding process that did not adequately assess whether new patients met the necessary criteria for treatment. Following this, reports of severe patient injuries due to the use of Byte began to increase, a situation Dentsply allegedly neglected to address.
In addition to misleading marketing practices, the complaint accuses Dentsply of failing to inform the FDA about the rising incidents of injuries associated with Byte. It is contended that Dentsply was aware of the serious injuries occurring among its patients but did little to investigate these claims or initiate proper reporting protocol—breaking a legal obligation that requires companies to notify the FDA within 30 days of becoming aware of a problem. Consequently, the FDA noted a significant increase in reports of serious injuries related to Byte. As a result, Dentsply is accused of significantly overstating the goodwill value associated with Byte, thereby misleading investors and misrepresenting the company's operational health and prospects.
Investors who suffered losses during the aforementioned period have until January 27, 2025, to request appointment as lead plaintiff in this class action suit. It's important to note that the opportunity to recover losses does not depend on becoming a lead plaintiff; any class member may seek compensation without incurring out-of-pocket costs or fees to participate in the lawsuit.
Levi & Korsinsky LLP has a proven track record in representing investors in complex securities litigation, having successfully secured hundreds of millions of dollars for aggrieved shareholders over the past two decades. Their robust team of over 70 legal professionals specializes in high-stakes cases and has consistently ranked highly in the industry. They emphasize that this legal action is not just about securing compensation for damages; it is also about holding companies accountable for their practices and protecting the rights of investors.
For those affected investors seeking to learn more about the details of the suit or wishing to participate, further information can be accessed through Levi & Korsinsky’s dedicated website or by contacting attorney Joseph E. Levi directly. With the serious nature of the allegations surrounding Dentsply and its business practices, stakeholders are encouraged to stay informed and consider their options moving forward.
As the deadline approaches, it remains to be seen how Dentsply will respond to these grave accusations and whether the company will take steps to address the concerns raised by both the plaintiffs and the FDA regarding its products and practices.
Nature of the Allegations
The class action lawsuit claims that Dentsply engaged in deceptive practices that led to significant investor losses. According to the complaint, the company made false statements and concealed critical information related to its internal operations and the promotion of Byte. Specifically, it is alleged that Dentsply's marketing strategy targeted low-income individuals lacking access to proper dental care, education, and insurance. These patients often had underlying dental conditions that rendered them ineligible for treatment using Byte.
Moreover, the lawsuit claims that Dentsply's aggressive push for sales led to sales representatives promoting the Byte aligner solution to patients who were not appropriate candidates. This resulted in a flawed patient onboarding process that did not adequately assess whether new patients met the necessary criteria for treatment. Following this, reports of severe patient injuries due to the use of Byte began to increase, a situation Dentsply allegedly neglected to address.
Ignoring Patient Safety
In addition to misleading marketing practices, the complaint accuses Dentsply of failing to inform the FDA about the rising incidents of injuries associated with Byte. It is contended that Dentsply was aware of the serious injuries occurring among its patients but did little to investigate these claims or initiate proper reporting protocol—breaking a legal obligation that requires companies to notify the FDA within 30 days of becoming aware of a problem. Consequently, the FDA noted a significant increase in reports of serious injuries related to Byte. As a result, Dentsply is accused of significantly overstating the goodwill value associated with Byte, thereby misleading investors and misrepresenting the company's operational health and prospects.
Claims for Investor Compensation
Investors who suffered losses during the aforementioned period have until January 27, 2025, to request appointment as lead plaintiff in this class action suit. It's important to note that the opportunity to recover losses does not depend on becoming a lead plaintiff; any class member may seek compensation without incurring out-of-pocket costs or fees to participate in the lawsuit.
Why Choose Levi & Korsinsky
Levi & Korsinsky LLP has a proven track record in representing investors in complex securities litigation, having successfully secured hundreds of millions of dollars for aggrieved shareholders over the past two decades. Their robust team of over 70 legal professionals specializes in high-stakes cases and has consistently ranked highly in the industry. They emphasize that this legal action is not just about securing compensation for damages; it is also about holding companies accountable for their practices and protecting the rights of investors.
Contact and Further Information
For those affected investors seeking to learn more about the details of the suit or wishing to participate, further information can be accessed through Levi & Korsinsky’s dedicated website or by contacting attorney Joseph E. Levi directly. With the serious nature of the allegations surrounding Dentsply and its business practices, stakeholders are encouraged to stay informed and consider their options moving forward.
As the deadline approaches, it remains to be seen how Dentsply will respond to these grave accusations and whether the company will take steps to address the concerns raised by both the plaintiffs and the FDA regarding its products and practices.
Topics Financial Services & Investing）
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