Dentsply Sirona Inc. Investors: January 27, 2025 Filing Deadline in Securities Class Action - Contact Lieff Cabraser
Dentsply Sirona (NASDAQ:XRAY) faces a securities class action lawsuit regarding its Byte dental aligner business. The lawsuit covers investors who purchased stock between December 1, 2022, and November 6, 2024. The company is accused of making false statements and failing to disclose that they targeted low-income individuals who were often ineligible for treatment, prioritized sales over patient safety, and inadequately investigated patient injuries.
On October 24, 2024, Dentsply suspended Byte sales for regulatory review. The next day, they revealed FDA concerns about inadequate patient screening and announced a potential goodwill impairment of $450-550 million, causing a 4.5% stock drop. On November 7, 2024, they confirmed a $495 million impairment charge, lowered their 2024 earnings forecast, and mentioned possible Byte business discontinuation, leading to a 28.02% stock decline.
Dentsply Sirona (NASDAQ:XRAY) è coinvolta in una causa legale collettiva di titoli riguardante la sua attività di allineatori dentali Byte. La causa include gli investitori che hanno acquistato azioni tra il 1 dicembre 2022 e il 6 novembre 2024. L'azienda è accusata di aver rilasciato dichiarazioni false e di non aver rivelato che miravano a individui a basso reddito, che spesso non erano idonei per il trattamento, dando priorità alle vendite rispetto alla sicurezza dei pazienti e indagando inadeguatamente sulle lesioni dei pazienti.
Il 24 ottobre 2024, Dentsply ha sospeso le vendite di Byte per una revisione normativa. Il giorno dopo, hanno rivelato preoccupazioni della FDA riguardo a una screening inadeguata dei pazienti e hanno annunciato un potenziale impairment di goodwill di 450-550 milioni di dollari, causando un calo del 4,5% delle azioni. Il 7 novembre 2024, hanno confermato un addebito di impairment di 495 milioni di dollari, abbassato le previsioni sui guadagni del 2024 e menzionato una possibile cessazione dell'attività Byte, portando a un calo del 28,02% delle azioni.
Dentsply Sirona (NASDAQ:XRAY) enfrenta una demanda colectiva de valores relacionada con su negocio de alineadores dentales Byte. La demanda abarca a los inversionistas que compraron acciones entre el 1 de diciembre de 2022 y el 6 de noviembre de 2024. La compañía es acusada de hacer declaraciones falsas y no revelar que estaban dirigidas a personas de bajos ingresos, que a menudo no eran elegibles para el tratamiento, priorizando las ventas sobre la seguridad del paciente e investigando de manera inadecuada las lesiones de los pacientes.
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 una evaluación inadecuada de pacientes y anunciaron un posible deterioro de goodwill de 450 a 550 millones de dólares, lo que provocó una caída del 4.5% en las acciones. El 7 de noviembre de 2024, confirmaron un cargo por deterioro de 495 millones de dólares, redujeron su pronóstico de ganancias para 2024 y mencionaron una posible discontinuación del negocio Byte, lo que llevó a una caída del 28.02% en las acciones.
Dentsply Sirona (NASDAQ:XRAY)는 Byte 치아 정렬기 사업과 관련하여 증권 집단 소송에 직면해 있습니다. 이 소송은 2022년 12월 1일부터 2024년 11월 6일 사이에 주식을 구매한 투자자들을 포함합니다. 회사는 허위 진술을 했고 치료 자격이 종종 없는 저소득 개인을 대상으로 하였으며, 환자 안전보다 판매를 우선시하고 환자 부상에 대한 조사를 부실하게 진행했다고 비난받고 있습니다.
2024년 10월 24일, Dentsply는 규제 검토를 위해 Byte 판매를 중단했습니다. 다음 날, 그들은 환자 선별 조사가 부적절하다는 FDA의 우려를 밝혔고, 4억 5천만에서 5억 5천만 달러의 goodwill 손상을 알리며 주가가 4.5% 하락했습니다. 2024년 11월 7일, 그들은 4억 9천5백만 달러의 손상 충당금을 확인하고 2024년 수익 전망을 낮추었으며, Byte 사업 중단 가능성을 언급하며 주가가 28.02% 하락했습니다.
Dentsply Sirona (NASDAQ:XRAY) est confronté à un recours collectif en valeurs mobilières concernant son activité d'alignateurs dentaires Byte. Le recours concerne les investisseurs ayant acheté des actions entre le 1er décembre 2022 et le 6 novembre 2024. La société est accusée d'avoir fait de fausses déclarations et d'avoir omis de révéler qu'elle ciblait des individus à faible revenu souvent inéligibles au traitement, privilégiant les ventes au détriment de la sécurité des patients et enquêtant de manière insuffisante sur les blessures des patients.
Le 24 octobre 2024, Dentsply a suspendu les ventes de Byte pour une révision réglementaire. Le lendemain, ils ont révélé des préoccupations de la FDA concernant un dépistage des patients inadéquat et ont annoncé une éventuelle dépréciation de goodwill de 450 à 550 millions de dollars, entraînant une chute de 4,5 % de l'action. Le 7 novembre 2024, ils ont confirmé un prélèvement de dépréciation de 495 millions de dollars, abaissé leurs prévisions de bénéfices pour 2024 et mentionné la possible cessation de l'activité Byte, entraînant une baisse de 28,02 % de l'action.
Dentsply Sirona (NASDAQ:XRAY) sieht sich einer Sammelklage in Bezug auf seine Byte-Zahnbegradiger-Aktivitäten gegenüber. Die Klage umfasst Investoren, die zwischen dem 1. Dezember 2022 und dem 6. November 2024 Aktien gekauft haben. Dem Unternehmen wird vorgeworfen, falsche Aussagen gemacht und es versäumt zu haben, offenzulegen, dass es einkommensschwache Personen anvisiert hat, die oft nicht für Behandlungen geeignet waren, Verkäufe über die Patientensicherheit priorisierte und Patientenverletzungen unzureichend untersuchte.
Am 24. Oktober 2024 stellte Dentsply den Verkauf von Byte zur Überprüfung durch die Regulierungsbehörden ein. Am nächsten Tag wurden Bedenken der FDA bezüglich unzureichender Patientenüberprüfungen offengelegt und ein möglicher Goodwill-Abschreibungsbetrag von 450 bis 550 Millionen Dollar angekündigt, was zu einem Rückgang der Aktien um 4,5% führte. Am 7. November 2024 bestätigten sie einen Abschreibungsaufwand von 495 Millionen Dollar, senkten ihre Gewinnerwartungen für 2024 und erwähnten eine mögliche Einstellung des Byte-Geschäfts, was zu einem Rückgang der Aktien um 28,02% führte.
- None.
- Suspension of Byte aligners sales and marketing due to regulatory concerns
- $495 million goodwill impairment charge recorded
- Reduced 2024 earnings forecast from $1.96-2.02 to $1.82-1.86 per share
- 28.02% stock price decline following November 7 announcements
- Potential complete discontinuation of Byte business under consideration
- Alleged failure to comply with FDA injury reporting requirements
- Legal exposure from securities class action lawsuit
Insights
The securities class action against Dentsply Sirona represents a major legal and financial risk for the company. The allegations regarding Byte aligners target the core of their direct-to-consumer business model and highlight serious regulatory compliance failures. The claimed misrepresentation of patient screening processes and failure to report injuries to the FDA within mandatory timeframes expose Dentsply to substantial liability. The
The stock's
The situation presents severe financial implications for Dentsply Sirona. The
The market capitalization impact has been substantial, with the stock suffering a combined decline of over
SAN FRANCISCO, CA / ACCESSWIRE / December 23, 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 December 1, 2022, and November 6, 2024, inclusive (the "Class Period") to contact us immediately regarding a pending securities class action against Dentsply. The deadline to apply to be lead plaintiff is January 27, 2025.
Class Period: December 1, 2022 - 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 action alleges 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, LLP
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FAQ
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