Dentsply Sirona Inc. Investors: January 27, 2025 Filing Deadline in Securities Class Action - Contact Lieff Cabraser
Dentsply Sirona (NASDAQ:XRAY) faces securities class actions regarding its Byte dental aligner business. The lawsuit, with a lead plaintiff deadline of January 27, 2025, alleges the company made false statements during May 6, 2021 - November 6, 2024.
The company is accused of targeting low-income individuals potentially ineligible for treatment, inadequate patient screening, failure to report injuries to FDA, and overstating Byte's goodwill value. Following regulatory concerns, Dentsply suspended Byte sales on October 24, 2024, leading to a 4.5% stock drop.
On November 7, 2024, Dentsply announced a $495 million goodwill impairment charge, lowered its 2024 earnings forecast to $1.82-1.86 per share (from $1.96-2.02), and considered discontinuing Byte operations. The stock subsequently fell 28.02% to $17.26.
Dentsply Sirona (NASDAQ:XRAY) è coinvolta in azioni legali collettive riguardanti il suo business di allineatori dentali Byte. La causa, con scadenza per il principale attore fissata al 27 gennaio 2025, accusa l'azienda di aver fornito dichiarazioni false nel periodo compreso tra il 6 maggio 2021 e il 6 novembre 2024.
L’azienda è accusata di mirare a individui a basso reddito potenzialmente non idonei al trattamento, di avere una screening inadeguata dei pazienti, di non aver riportato infortuni alla FDA e di aver sovrastimato il valore del goodwill di Byte. In seguito a preoccupazioni regolatorie, Dentsply ha sospeso le vendite di Byte il 24 ottobre 2024, causando un calo del 4,5% delle azioni.
Il 7 novembre 2024, Dentsply ha annunciato una perdita di valore del goodwill di 495 milioni di dollari, ha ridotto le previsioni di guadagno per il 2024 a $1,82-1,86 per azione (rispetto ai $1,96-2,02 precedentemente previsti) e ha preso in considerazione la possibilità di interrompere le operazioni di Byte. Di conseguenza, le azioni sono scese del 28,02% a $17,26.
Dentsply Sirona (NASDAQ:XRAY) enfrenta acciones legales colectivas relacionadas con su negocio de alineadores dentales Byte. La demanda, con una fecha límite para el demandante principal el 27 de enero de 2025, alega que la empresa emitió declaraciones falsas entre el 6 de mayo de 2021 y el 6 de noviembre de 2024.
La empresa está acusada de dirigirse a personas de bajos ingresos potencialmente no elegibles para el tratamiento, de tener un filtrado de pacientes inadecuado, de no informar lesiones a la FDA y de exagerar el valor del goodwill de Byte. Tras preocupaciones regulatorias, Dentsply suspendió las ventas de Byte el 24 de octubre de 2024, lo que provocó una caída del 4,5% en las acciones.
El 7 de noviembre de 2024, Dentsply anunció un cargo por deterioro del goodwill de 495 millones de dólares, redujo su pronóstico de ganancias para 2024 a $1,82-1,86 por acción (de $1,96-2,02) y consideró la posibilidad de descontinuar las operaciones de Byte. Posteriormente, las acciones cayeron un 28,02% a $17,26.
Dentsply Sirona (NASDAQ:XRAY)는 Byte 치과 교정기 사업과 관련된 증권 집단 소송에 직면해 있습니다. 원고 마감일이 2025년 1월 27일인 이 소송은 회사가 2021년 5월 6일부터 2024년 11월 6일 사이에 허위 진술을 했다고 주장합니다.
회사는 치료에 부적합할 수 있는 저소득층 개인을 겨냥하고, 환자 선별이 불충분하며, FDA에 부상을 보고하지 않고, Byte의 goodwill 가치를 과장한 혐의를 받고 있습니다. 규제 우려로 인해 Dentsply는 2024년 10월 24일 Byte 판매를 중단하였고, 이에 따라 주가는 4.5% 하락했습니다.
2024년 11월 7일, Dentsply는 4억 9,500만 달러 goodwill 손상 차감을 발표하고, 2024년 주당 수익 예측을 $1.82-1.86로 하향 조정했습니다(이전 $1.96-2.02에서). 그리고 Byte 운영 중단을 고려하고 있다고 밝혔습니다. 이후 주가는 28.02% 하락하여 $17.26에 거래되었습니다.
Dentsply Sirona (NASDAQ:XRAY) fait face à des actions en justice collectives concernant son activité d'aligneur dentaire Byte. La plainte, avec une date limite pour le demandeur principal fixée au 27 janvier 2025, allègue que l'entreprise a fait de fausses déclarations entre le 6 mai 2021 et le 6 novembre 2024.
L'entreprise est accusée de cibler des individus à faible revenu potentiellement inéligibles pour un traitement, d'un dépistage inadéquat des patients, de ne pas avoir signalé des blessures à la FDA et de surestimer la valeur du goodwill de Byte. Suite à des préoccupations réglementaires, Dentsply a suspendu les ventes de Byte le 24 octobre 2024, entraînant une baisse de 4,5 % de l'action.
Le 7 novembre 2024, Dentsply a annoncé une charge pour dépréciation de goodwill de 495 millions de dollars, a abaissé ses prévisions de bénéfices pour 2024 à 1,82-1,86 $ par action (contre 1,96-2,02 $) et a envisagé d'arrêter les opérations de Byte. L'action a ensuite chuté de 28,02 % pour atteindre 17,26 $.
Dentsply Sirona (NASDAQ:XRAY) sieht sich Sammelklagen bezüglich seines Byte-Zahnausrichtungs-Geschäfts gegenüber. Die Klage hat eine Frist für den Hauptkläger bis zum 27. Januar 2025 und behauptet, dass das Unternehmen zwischen dem 6. Mai 2021 und dem 6. November 2024 falsche Aussagen getroffen hat.
Das Unternehmen wird beschuldigt, einkommensschwache Personen, die möglicherweise nicht für eine Behandlung in Frage kommen, gezielt angesprochen, eine unzureichende Patientenüberprüfung durchgeführt, Verletzungen nicht an die FDA gemeldet und den Wert des goodwill von Byte übertrieben zu haben. Nach regulatorischen Bedenken hat Dentsply am 24. Oktober 2024 den Verkauf von Byte ausgesetzt, was zu einem Rückgang der Aktien um 4,5% führte.
Am 7. November 2024 gab Dentsply eine Wertminderung des goodwill in Höhe von 495 Millionen Dollar bekannt, senkte die Gewinnprognose für 2024 auf 1,82-1,86 Dollar pro Aktie (von 1,96-2,02 Dollar) und erwog die Einstellung der Byte-Operationen. In der Folge sank der Aktienkurs um 28,02% auf 17,26 Dollar.
- None.
- Securities class action lawsuit filed against the company
- Suspension of Byte aligners sales due to regulatory concerns
- $495 million goodwill impairment charge
- Reduced 2024 EPS guidance from $1.96-2.02 to $1.82-1.86
- 28.02% stock price drop following November 7 announcements
- Potential discontinuation of Byte business
- Alleged failure to screen contraindicated patients
- Non-compliance with FDA injury reporting requirements
Insights
This securities class action lawsuit represents a significant legal challenge for Dentsply Sirona, with potentially substantial financial implications. The allegations center on the company's Byte aligner business and paint a concerning picture of systematic misrepresentation and regulatory non-compliance. The lawsuit's core claims about targeting vulnerable populations, inadequate screening processes and failure to report injuries to the FDA constitute serious securities law violations.
The
- Alleged intentional targeting of contraindicated patients
- Failure to maintain adequate FDA compliance systems
- Material misstatements about Byte's business value
The allegations and subsequent regulatory issues with Byte represent a severe operational and financial setback for Dentsply Sirona. The
The potential discontinuation of the Byte business line poses strategic challenges, as direct-to-consumer aligners were viewed as a growth driver. The rapid sequence of events - from voluntary suspension to possible complete discontinuation - suggests deeper systemic issues that could affect investor confidence beyond just the Byte segment. The stock's dramatic decline reflects both immediate financial impact and longer-term concerns about management credibility and regulatory oversight capabilities.
SAN FRANCISCO, CA / ACCESSWIRE / December 24, 2024 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in Dentsply Sirona Inc. ("Dentsply" or the "Company") (NASDAQ:XRAY) who purchased or otherwise acquired Dentsply common stock between May 6, 2021, and November 6, 2024, inclusive (the "Class Period") to contact us immediately regarding pending securities class actions against Dentsply. The deadline to apply to be lead plaintiff is January 27, 2025.
Class Period: May 6, 2021 - November 6, 2024
Lead Plaintiff Motion Deadline: January 27, 2025
Case information: https://lieffcabraser.com/securities/dentsply-sirona/
Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358
Dentsply, incorporated in Delaware and headquartered in Charlotte, North Carolina, manufactures professional dental products, including Byte, an affordable, "doctor-directed," direct-to-consumer dental aligner.
The actions allege that Dentsply made materially false and misleading statements throughout the Class Period, and failed to disclose material adverse facts about its business, operations, and prospects, including that: (1) the Company targeted their Byte sales towards low-income individuals who lacked access to quality dental care, and were therefore more likely to have underlying dental issues making them ineligible for the treatment; (2) the drive for Byte growth and sales commissions led employees to sell to contraindicated patients; (3) Dentsply's process for onboarding Byte patients failed to provide adequate assurance that contraindicated patients would not be treated; (4) the Company knew its Byte products were severely injuring patients, but failed to adequately investigate instances of those injuries; (5) Dentsply lacked systems to notify the FDA of such injuries within 30 days of learning of them, as required; and (6) the Company materially overstated the goodwill value of their Byte business.
On October 24, 2024, Dentsply announced the "voluntary suspension of sales and marketing of its Byte Aligners and Impression Kits while the Company conducts a review of certain regulatory requirements related to these products." Dentsply initially claimed that this was simply a "precautionary measure"; however, the next day, Dentsply CEO, defendant Simon D. Campion, revealed that discussions with the FDA had led to the suspension over concerns that the Company's patient onboarding process failed to adequately screen contraindicated patients from treatment with Byte aligners. Dentsply also disclosed that it expected to record a goodwill impairment charge of between
On November 7, 2024, Dentsply announced a goodwill impairment charge of
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 125 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
SOURCE: Lieff Cabraser Heimann & Bernstein
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FAQ
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