DENTSPLY SIRONA Faces Class Action Lawsuit Over Alleged Misconduct
TL;DR
Investors can seek lead plaintiff status to potentially recover losses by the January 27, 2025 deadline.
Securities class action lawsuits filed against DENTSPLY allege false statements and patient injuries related to Byte aligners.
Kessler Topaz Meltzer & Check, LLP aims to protect investors and consumers from corporate misconduct and fraud.
DENTSPLY allegedly targeted low-income patients and failed to report severe injuries caused by Byte aligners.
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DENTSPLY SIRONA Inc. (NASDAQ: XRAY) is facing multiple securities class action lawsuits over alleged misconduct related to its Byte direct-to-consumer aligner product. The lawsuits, filed on behalf of investors who purchased DENTSPLY stock between May 6, 2021, and November 6, 2024, claim the company made false and misleading statements about Byte's business practices and patient safety issues.
According to the complaints, DENTSPLY allegedly targeted low-income individuals without access to proper dental care for its Byte aligners, leading to the treatment of contraindicated patients. The lawsuits assert that DENTSPLY's push for growth and sales commissions resulted in employees selling to unsuitable patients, while the company's onboarding process failed to adequately screen out ineligible candidates.
The allegations further state that DENTSPLY was aware of numerous patient injuries but failed to properly investigate or report these incidents to the FDA as required. This alleged negligence has reportedly led to a sharp increase in serious injury reports from Byte patients to the FDA.
The lawsuits claim that as a result of these practices, DENTSPLY materially overstated the goodwill value of Byte and made false statements about the company's business, operations, and prospects. These allegations, if proven true, could have significant implications for DENTSPLY's financial standing and reputation in the dental industry.
Investors who suffered losses from their DENTSPLY stock holdings during the specified period have until January 27, 2025, to seek appointment as a lead plaintiff in the class action. The lead plaintiff will act on behalf of all class members in directing the litigation.
This legal action highlights the potential risks and responsibilities faced by companies in the healthcare sector, particularly those offering direct-to-consumer medical products. It underscores the importance of maintaining robust patient safety protocols and transparent communication with regulatory bodies. The outcome of this case could have broader implications for the dental industry and investor confidence in similar healthcare technology companies.
Curated from NewMediaWire
