Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of common stock of Dentsply Sirona Inc. (NASDAQ: XRAY) between December 1, 2022 and November 6, 2024. Dentsply describes itself as a company that “manufactures professional dental products.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Dentsply Sirona Inc. (NASDAQ: XRAY) Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Dentsply targeted low-income people who did not have access to good oral hygiene education, a dentist, or dental insurance, which often meant patients signing up for Byte, a direct-to-consumer (“DTC”) aligner solution, had underlying dental issues that would have made them ineligible for treatment; (2) the push for Byte growth and sales commissions caused sales employees to sell to contraindicated patients; (3) as a result of the above, the Byte patient onboarding workflow did not provide adequate assurance that contraindicated patients did not enter treatment; (4) before and during the Class Period, reports of Byte patient injuries were pouring in; (5) Dentsply knew that its Byte aligners were causing severe patient injuries for years but did little to investigate those injuries or notify the U.S. Food and Drug Administration (“FDA”); (6) Dentsply had no systems in place to notify the FDA of these injuries, which Dentsply is required to do within 30 days of learning of a problem; (7) the FDA had received a sharp uptick in reports of serious injuries from Byte patients; (8) as a result of the above, Dentsply materially overstated the goodwill value of Byte; and (9) as a result of the above, defendants’ positive statements about Dentsply’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Dentsply Sirona Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by January 27, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
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