Scott+Scott Attorneys at Law LLP Files Securities Class Action Against Dentsply Sirona, Inc. (NASDAQ: XRAY)

By: Scott+Scott Attorneys at Law LLP via Business Wire

December 18, 2024 at 22:31 PM EST

Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, has filed a securities Class Action lawsuit in the United States District Court for the Southern District of New York against Dentsply Sirona, Inc. (“Dentsply” or the “Company”) (NASDAQ: XRAY), and certain of its former and current officers and/or directors (collectively, “Defendants”). The Class Action asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (15 U.S.C. §§78j(b) and 78t(a)) and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder (17 C.F.R. §240.10b‑5) on behalf of all persons other than Defendants who purchased or otherwise acquired Dentsply securities between February 28, 2022, and November 6, 2024, inclusive (the “Class Period”), and were damaged thereby (the “Class”). The Class Action filed by Scott+Scott is captioned: Calvin v. Dentsply Sirona, Inc., et al, Case No. 1:24-cv-09764 (S.D.N.Y.).

Dentsply manufactures professional dental products and technologies, develops, manufactures, and markets dental equipment, dental products, and healthcare consumable products.

The Class Action alleges that, during the Class Period, Defendants made misleading statements and omissions regarding the Company’s business, financial condition, and prospects. Specifically, Defendants failed to disclose to investors that it targeted low-income people with underlying dental issues that were ineligible for more traditional aligner treatment, Dentsply sold Byte aligners, a direct-to-consumer (“DTC”) aligner solution, to contraindicated patients, and Dentsply knew that its Byte aligners were causing severe patient injuries.

As the truth about Dentsply’s business reached the market, the price of Dentsply’s stock suffered significant declines, harming investors. For example, on November 7, 2024, before the market opened, Dentsply filed a Form 8-K with the United States Securities and Exchange Commission, reporting a significant downward revision to its 2024 outlook. Dentsply claimed that its revised 2024 outlook was “due to market pressures impacting U.S. equipment, legislative changes affecting the direct-to-consumer aligner business model, and the voluntary suspension of sales, marketing, and shipments” of Byte. On this news, the price of Dentsply stock fell $6.72 per share, or more than 28%, to close $17.26 per share on November 7, 2024, on heavy trading volume.

Lead Plaintiff Deadline

If you purchased Dentsply common stock during the Class Period and were damaged thereby, you are a member of the “Class” and may be able to seek appointment as lead plaintiff.

If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the Southern District of New York no later than January 27, 2025. The lead plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.

What You Can Do

You may contact an attorney to discuss your rights regarding the appointment of lead plaintiff or your interest in the Class Action. You may retain counsel of your choice to represent you in the Class Action.

About Scott+Scott

Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.

This may be considered Attorney Advertising.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241218335769/en/

Contacts

Nicholas S. Bruno

Scott+Scott Attorneys at Law LLP

230 Park Avenue, 24th Floor, New York, NY 10169

(888) 398-9312

nbruno@scott-scott.com

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Scott+Scott Attorneys at Law LLP Files Securities Class Action Against Dentsply Sirona, Inc. (NASDAQ: XRAY)

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