Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Dec. 23, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Dentsply Sirona, Inc. ("Dentsply" or the "Company") (NASDAQ: XRAY) investors of a class action representing investors that bought securities between February 28, 2022, and November 6, 2024, inclusive (the "Class Period"). Dentsply investors have until January 27, 2025 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Dentsply manufactures professional dental products and technologies, as well as develops, produces, and markets dental equipment, dental products, and healthcare consumables.
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, the Defendants failed to disclose to investors that the Company targeted low-income individuals with underlying dental issues who were ineligible for traditional aligner treatments, sold Byte aligners—a direct-to-consumer (DTC) aligner solution—to inappropriate patients, and knew that these Byte aligners were causing significant patient injuries.
As the true nature of Dentsply’s business became known, the price of its stock experienced substantial declines, causing harm to 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, announcing a major downward revision to its 2024 outlook. Dentsply attributed the revision to “market pressures affecting U.S. equipment, legislative changes impacting the direct-to-consumer aligner business model, and the voluntary suspension of sales, marketing, and shipments” of Byte. Following this news, Dentsply's stock price fell by $6.72 per share, or more than 28%, closing at $17.26 per share on November 7, 2024, with heavy trading volume.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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