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 covers investors who bought stock between May 6, 2021, and November 6, 2024. The company is accused of targeting low-income individuals unsuitable for treatment and failing to properly screen contraindicated patients.
On October 24, 2024, Dentsply suspended Byte sales for regulatory review. The next day, they revealed FDA concerns about inadequate patient screening and announced an expected goodwill impairment of $450-550 million, causing a 4.5% stock drop. On November 7, 2024, they confirmed a $495 million impairment charge, lowered 2024 earnings guidance, and considered discontinuing Byte operations, leading to a 28.02% stock plunge.
Dentsply Sirona (NASDAQ:XRAY) è coinvolta in azioni legali collettive in materia di titoli relative al suo business di allineatori dentali Byte. La causa si rivolge agli investitori che hanno acquistato azioni tra il 6 maggio 2021 e il 6 novembre 2024. L'azienda è accusata di aver preso di mira persone a basso reddito non idonee al trattamento e di non aver effettuato un'adeguata screening dei pazienti controindicato.
Il 24 ottobre 2024, Dentsply ha sospeso le vendite di Byte per una revisione regolamentare. Il giorno seguente, hanno rivelato preoccupazioni da parte della FDA riguardo a un'inadeguata screening dei pazienti e hanno annunciato un'impatto sul goodwill previsto compreso tra $450 e $550 milioni, causando un calo del 4,5% delle azioni. Il 7 novembre 2024, hanno confermato una perdita di valore di $495 milioni, ridotto le previsioni sugli utili per il 2024 e considerato la possibilità di interrompere le operazioni di Byte, portando a un crollo del 28,02% delle azioni.
Dentsply Sirona (NASDAQ:XRAY) enfrenta acciones colectivas de valores relacionadas con su negocio de alineadores dentales Byte. La demanda abarca a los inversores que compraron acciones entre el 6 de mayo de 2021 y el 6 de noviembre de 2024. La empresa es acusada de dirigirse a personas de bajos ingresos inadecuadas para el tratamiento y de no realizar un adecuado cribado de los pacientes contraindicados.
El 24 de octubre de 2024, Dentsply suspendió las ventas de Byte para una revisión regulatoria. Al día siguiente, revelaron preocupaciones de la FDA sobre la insuficiente evaluación de los pacientes y anunciaron un deterioro esperado del goodwill de entre $450 y $550 millones, lo que causó una caída del 4.5% en las acciones. El 7 de noviembre de 2024, confirmaron un cargo por deterioro de $495 millones, disminuyeron las expectativas de ganancias para 2024 y consideraron la posibilidad de descontinuar las operaciones de Byte, lo que provocó un desplome del 28.02% en las acciones.
Dentsply Sirona (NASDAQ:XRAY)은 Byte 치아 교정기 사업과 관련하여 증권 집단 소송에 직면해 있습니다. 이 소송은 2021년 5월 6일부터 2024년 11월 6일 사이에 주식을 구입한 투자자를 대상으로 하고 있습니다. 이 회사는 치료에 부적합한 저소득층을 목표로 삼고 있으며, 금기 환자에 대한 적절한 선별을 하지 않은 혐의를 받고 있습니다.
2024년 10월 24일, Dentsply는 규제 검토를 위해 Byte 판매를 중단했습니다. 다음 날, 그들은 불충분한 환자 선별에 대한 FDA의 우려를 밝혔고, 4억 5천만에서 5억 5천만 달러 사이의 상각 예상 손실을 발표하여 주식이 4.5% 하락하게 만들었습니다. 2024년 11월 7일, 그들은 4억 9천 5백만 달러의 손상 차감을 확인하고 2024년 수익 전망을 낮추며 Byte 운영 중단을 고려 중이라고 밝혔고, 이로 인해 주식이 28.02% 폭락했습니다.
Dentsply Sirona (NASDAQ:XRAY) fait face à des actions collectives en matière de valeurs mobilières concernant son business des aligneurs dentaires Byte. La plainte concerne les investisseurs ayant acheté des actions entre le 6 mai 2021 et le 6 novembre 2024. L'entreprise est accusée de cibler des personnes à faible revenu inadaptées au traitement et de ne pas avoir correctement dépisté les patients contre-indiqués.
Le 24 octobre 2024, Dentsply a suspendu les ventes de Byte pour un examen réglementaire. Le lendemain, ils ont révélé des préoccupations de la FDA concernant le dépistage inadéquat des patients et ont annoncé une dépréciation de goodwill attendue comprise entre 450 et 550 millions de dollars, entraînant une baisse de 4,5 % des actions. Le 7 novembre 2024, ils ont confirmé une charge de dépréciation de 495 millions de dollars, abaissé les prévisions de bénéfices pour 2024 et envisagé de cesser les opérations de Byte, entraînant une chute de 28,02 % des actions.
Dentsply Sirona (NASDAQ:XRAY) sieht sich Sammelklagen im Wertpapierbereich bezüglich seines Byte-Zahnkorrekturgeschäfts gegenüber. Die Klage betrifft Investoren, die zwischen dem 6. Mai 2021 und dem 6. November 2024 Aktien gekauft haben. Das Unternehmen wird beschuldigt, einkommensschwache Personen, die für die Behandlung ungeeignet sind, gezielt angesprochen zu haben und eine ordnungsgemäße Überprüfung gegenindizierter Patienten versäumt zu haben.
Am 24. Oktober 2024 stellte Dentsply den Verkauf von Byte wegen einer regulatorischen Überprüfung ein. Am nächsten Tag gaben sie die Bedenken der FDA bekannt, dass die Patientenauswahl unzureichend war, und kündigten eine erwartete Wertminderung des Goodwills zwischen 450 und 550 Millionen USD an, was zu einem Rückgang der Aktien um 4,5 % führte. Am 7. November 2024 bestätigten sie eine Wertminderung von 495 Millionen USD, senkten die Gewinnprognose für 2024 und erwogen, die Byte-Betriebe einzustellen, was zu einem Rückgang der Aktien um 28,02 % führte.
- None.
- Suspension of Byte aligners sales and marketing due to FDA concerns
- $495 million goodwill impairment charge recorded
- Reduced 2024 earnings guidance from $1.96-2.02 to $1.82-1.86 per share
- 28.02% stock price drop following November 7 announcements
- Potential complete discontinuation of Byte business
- Legal exposure from securities class action lawsuit
Insights
The securities class action against Dentsply Sirona represents a severe legal and financial risk for the company. The allegations of knowingly selling Byte aligners to contraindicated patients and failing to report injuries to the FDA within mandatory timeframes expose Dentsply to substantial liability. The
The financial implications of this legal challenge are far-reaching. Beyond the immediate
- Reduced 2024 EPS guidance from
$1.96-$2.02 to$1.82-$1.86 - Potential loss of Byte revenue stream if discontinued
- Likely legal settlement costs and potential regulatory fines
- Reputational damage affecting other product lines
SAN FRANCISCO, CA / ACCESSWIRE / December 26, 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
View the original press release on accesswire.com
FAQ
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