Faruqi & Faruqi, LLP is investigating claims on behalf of investors DENTSPLY SIRONA By Investing.com

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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson encourages investors who have suffered losses greater than $75,000 in Dentsply to contact him directly to discuss their options

If you have suffered losses greater than $75,000 Dentsply between February 28, 2022 and November 6, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).

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New York, New York–(Newsfile Corp. – January 05, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against DENTSPLY SIRONA (NASDAQ: ) Inc . (“Dentsply” or the “Company”) (NASDAQ: XRAY) and reminds investors of The deadline is January 27, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.

As set forth below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the following: (1) Dentsply targeted low-income people who did not have access to good oral hygiene education, a dentist or dental insurance, which often meant that patients applying to Byte had dental problems that would make them ineligible for treatment; (2) the incentive for Byte’s growth and sales commissions induced sales employees to sell to contraindicated patients; (3) as a result of the foregoing, Byte’s patient enrollment workflow did not provide adequate assurance that contraindicated patients did not enter treatment; (4) before and during class, reports of patient injuries at Byte poured in; (5) Dentsply knew its Byte aligners were causing serious patient injuries for years, but did little to investigate those injuries or notify the FDA; (6) Dentsply did not have systems in place to notify the FDA of these injuries, which the Company is required to do within 30 days of becoming aware of the problem; (7) FDA received a sharp increase in reports of serious injuries from Byte patients; (8) as a result of the foregoing, Dentsply significantly overstated the value of Byte’s goodwill; (9) as a result of the above, the defendant’s positive statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.

The truth began to emerge after the market closed on October 24, 2024, when Dentsply announced “a voluntary suspension of sales and marketing of its Byte Aligners and Impression Kits while the company conducts a review of certain regulatory requirements associated with these products.” Dentsply claimed the suspension of sales and marketing of Byte was a “precautionary measure”. Dentsply further disclosed that it “expects to record a non-cash goodwill impairment charge in the range of $450 million to $550 million” for its orthodontic and implant solutions segment. During “Byte’s Business Update Call” prior to the market opening on October 25, 2024, Chief Executive Officer (“CEO”) Simon D. Campion provided more context on Byte’s suspension: “[I]In conjunction with our ongoing discussions with the FDA, we have determined that our patient onboarding workflow may not provide adequate assurance that certain patients with contraindications will not begin treatment with Byte Aligners.”

Following this news, Dentsply’s stock price fell more than 4%, from a closing price of $24.41 per share on October 24, 2024 to a closing price of $23.31 per share on October 25, 2024.

The truth was revealed on November 7, 2024 when, before the market opened, Dentsply reported its financial results for the third quarter of 2024, revealing that Dentsply “recorded a non-cash goodwill impairment charge of $(495) million net of tax within the Orthodontic and implantology solutions.” During the corresponding earnings call later that day, CEO Campion further disclosed that while Dentsply “was not at the time of our analysis to make a final decision regarding Byte,” the company is “thoroughly evaluating strategic options, which may include a termination part or all of this work.”

Following this news, Dentsply’s stock price fell over 28%, from a closing price of $23.98 per share on November 6, 2024, to a closing price of $17.26 per share on November 7, 2024, on extraordinary trading volume .

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of the class members who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information about Dentsply’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.

Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.

To view the original version of this press release, visit https://www.newsfilecorp.com/release/236006

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