Faruqi & Faruqi Alerts DENTSPLY SIRONA Investors About Class Action Lawsuit

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Dentsply To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $75,000 in Dentsply between February 28, 2022, and November 6, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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NEW YORK, Dec. 26, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a prominent national securities law firm, is currently looking into potential claims against DENTSPLY SIRONA Inc. ("Dentsply" or the "Company") XRAY. This reminder is especially pertinent as there is a January 27, 2025 deadline for investors to take action regarding a federal securities class action filed against the company.

Faruqi & Faruqi is well-known for its focus on securities law, with offices located in New York, Pennsylvania, California, and Georgia. The firm has successfully recovered hundreds of millions of dollars for investors since its establishment in 1995. Further details can be found at www.faruqilaw.com.

The current complaint against Dentsply alleges significant violations of federal securities laws. It claims that the Company and its executives made false or misleading statements while also failing to disclose critical information, such as: (1) Dentsply's targeting of low-income individuals lacking proper oral hygiene education, dental care, or insurance, leading to ineligible patients receiving treatment; (2) the sales pressure causing employees to market to inappropriate patients; (3) deficiencies in the Byte patient onboarding process; (4) increasing reports of patient injuries; (5) Dentsply's long-standing awareness of severe injuries related to its Byte aligners; (6) the lack of systems to report these injuries to the FDA as mandated; (7) the FDA receiving a surge of serious injury reports; (8) an inflated valuation of Byte; and (9) the misleading nature of executives' positive statements regarding the Company's operations and outlook.

The truth about these issues began to emerge after the market closure on October 24, 2024, when Dentsply publicly announced a "voluntary suspension of sales and marketing" of its Byte Aligners and Impression Kits to review regulatory compliances. This announcement was presented as a precautionary measure. Dentsply also indicated that it expected to incur non-cash charges for goodwill impairment ranging from $450 million to $550 million within its Orthodontic and Implant Solutions segment. CEO Simon D. Campion provided further insight during a call, stating, "In connection with our ongoing discussions with the FDA, we determined that our patient onboarding workflow may not adequately prevent contraindicated individuals from receiving treatment with Byte Aligners."

Following this revelation, Dentsply's share price dropped over 4%, from $24.41 on October 24 to $23.31 the following day.

Further confirmation came on November 7, 2024, when Dentsply reported third-quarter financial results, announcing a non-cash goodwill impairment charge of $495 million within the Orthodontic and Implant Solutions segment. During the earnings call, CEO Campion mentioned that the company was assessing options regarding Byte, which could include discontinuing the business.

This news led to a dramatic decline in Dentsply's stock price, plummeting by over 28%, from $23.98 on November 6 to $17.26 on November 7, accompanied by significant trading volume.

In class action lawsuits, the lead plaintiff is typically the individual with the largest financial stake in the case, representing the interests of other class members. Any member of the class can apply to be the lead plaintiff through their preferred legal counsel, or they may choose to remain a passive class member. Notably, the decision to act as a lead plaintiff does not affect one’s ability to share in any potential recovery.

Faruqi & Faruqi, LLP urges anyone with information regarding the actions of Dentsply to come forward, including whistleblowers, former employees, shareholders, and others.

For more information on the DENTSPLY SIRONA class action, please visit www.faruqilaw.com/XRAY or call Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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Attorney Advertising: The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome for future cases. We are available to discuss your case confidentially.

lawsuit, investors, DENTSPLY