#United States #New York #Pomerantz Law #Dentsply Sirona #XRAY

Investigation into DENTSPLY SIRONA Inc.

Pomerantz LLP, a prominent law firm specializing in securities litigation, has initiated an investigation concerning DENTSPLY SIRONA Inc. (NASDAQ: XRAY). This comes in response to alarming claims that suggest the company and its executives may have engaged in actions constituting securities fraud and other unlawful business practices.

Background of the Investigation

The investigation centers around multiple significant events affecting DENTSPLY's financial stability and its stock value. The pivotal moment was marked by the company’s acquisition of Byte, well-known for its clear dental aligners, in a deal worth $1.04 billion completed on December 31, 2020. This acquisition was seen as a strategic move to broaden DENTSPLY’s portfolio in the orthodontics sector.

However, the momentum shifted drastically on October 24, 2024, when the company announced a voluntary suspension of sales and marketing for Byte's products while reviewing regulatory requirements. Simultaneously, the firm disclosed its expectation of incurring non-cash charges for goodwill impairment ranging between $450 million to $550 million. This news sent ripples through the investment community, causing DENTSPLY's stock to tumble over 4%, closing at $23.31 on October 25, 2024.

Further compounding the situation, on November 7, 2024, DENTSPLY revealed its third-quarter financial results, detailing a hefty $495 million impairment of goodwill linked to its Orthodontic and Implant Solutions segment. This announcement included a revision of the company's previous sales forecasts, expecting organic sales to decline between 3.5% to 2.5%, compared to earlier predictions. Consequently, the stock price experienced a staggering drop of more than 28%, hitting $17.26 per share.

CEO remarks during the earnings call indicated that DENTSPLY was contemplating the discontinuation of Byte's business unit, further unsettling investors.

Investor Response and Legal Options

In light of the unfolding events, investors are urged to assess their legal options. Pomerantz Law Firm is actively seeking to connect with those affected by the decline in DENTSPLY's stock, encouraging individuals to reach out to Danielle Peyton for further assistance.

With over 85 years of experience in the realm of class action litigation, Pomerantz has made a name for itself as a leader in corporate and securities law, focusing on representing victims of financial misconduct. They have a robust history of recovering significant damages for class members impacted by securities fraud and other corporate violations.

Contact Information

Investors interested in joining the class action or seeking insights related to their claims can contact:

• - Danielle Peyton of Pomerantz LLP, via email at [email protected] or by phone at 646-581-9980, ext. 7980.

As the situation develops, the investment community remains on alert, contemplating the ramifications of DENTSPLY SIRONA’s business decisions on investor interests and market performance. Changes in business strategy, especially regarding acquisitions, have profound impacts -- a reality that all current and potential investors should carefully consider as they navigate this turbulent landscape.