#United States #New York #Class Action #Dentsply Sirona #Faruqi & Faruqi

Investors Urged to Take Action in Dentsply Sirona Class Action Lawsuit

In a critical update for shareholders of Dentsply Sirona Inc. (NASDAQ: XRAY), the leading national securities law firm, Faruqi & Faruqi, LLP, is providing essential information regarding a pending class action lawsuit. The firm is actively investigating potential claims against Dentsply and urges investors who have experienced losses exceeding $75,000 between December 1, 2022, and November 6, 2024, to reach out directly. The deadline to apply for the role of lead plaintiff is set for January 27, 2025.

Background on Dentsply Sirona

Dentsply Sirona is a market leader in dental products and technologies. However, the company has come under scrutiny following allegations of misleading statements and serious regulatory violations. According to the complaint, Dentsply failed to disclose critical information about its Byte aligners, specifically their targeting of vulnerable populations without adequate oral health education and access to dental care. Reports have indicated that this contributed to a significant increase in patient injuries related to their products.

Key Allegations

The lawsuit claims that Dentsply's executives knowingly made false representations regarding the company’s operations, which misled investors about the true state of Dentsply's business. Specific accusations include:

• - Dentsply targeted low-income individuals lacking access to proper dental care, resulting in many patients entering treatment with pre-existing dental issues.
• - Sales pressure led employees to disregard contraindications when selling Byte aligners to patients.
• - A high volume of injury reports related to Byte was ignored, and there was no adequate system to inform the FDA about these issues as required by law.
• - The company significantly overstated the goodwill value of its Byte product line, misleading its investors about the company’s financial health.

Recent Developments

The lawsuit was sparked by major announcements from Dentsply on October 24, 2024, when the company voluntarily suspended the sales and marketing of Byte products amid ongoing regulatory reviews. This move, described by the company's CEO as a precautionary measure, coincided with disclosure of expected non-cash charges for substantial goodwill impairment, likely reaching between $450 and $550 million. Following this announcement, shares of Dentsply fell sharply, highlighting the financial impact of the revelations.

On November 7, Dentsply reported further financial losses, with a goodwill impairment charge exceeding $495 million. The CEO indicated that the firm was assessing strategic options, which may include discontinuing the Byte business altogether. This news resulted in another drastic drop in the company’s stock price, indicating that investor confidence has waned significantly.

Calls to Action for Investors

Faruqi & Faruqi is not only reminding potential class-action members of the upcoming deadline but also extending an invitation for those affected to bring forth any additional information that could assist in the case. This is particularly important for whistleblowers, former employees, and shareholders who may have insights into Dentsply's practices.

Investors interested in participating in this legal action should consult with a securities attorney or contact Faruqi & Faruqi directly at 877-247-4292 or 212-983-9330 (Ext. 1310). For further details regarding the Dentsply Sirona class action lawsuit, individuals can visit www.faruqilaw.com/XRAY.

Conclusion

The Dentsply situation serves as a stark reminder of the importance of transparency and accountability in corporate governance, especially in sectors directly affecting consumer health. As the January 27, 2025 deadline approaches, impacted investors are encouraged to take action without delay to protect their rights and potentially recover their losses.