January 25, 2021 - A corrected second amended complaint was filed.

January 22, 2021 - A second amended complaint was filed.

May 6, 2019 - An amended complaint was filed.

December 19, 2018 - An investor in shares of DENTSPLY SIRONA Inc. (NASDAQ: XRAY) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by DENTSPLY SIRONA Inc. in connection with certain allegedly false and misleading statements made between February 20, 2014 through August 7, 2018.

York, PA based DENTSPLY SIRONA Inc. designs, develops, manufactures, and markets various dental and oral health products, and other consumable healthcare products primarily for the professional dental market worldwide. DENTSPLY SIRONA Inc. reported that its annual Total Revenue rose from over $3.74 billion in 2016 to over $3.99 billion in 2017 and that its Net Income of $429.90 million in 2016 declined to a Net Loss of $1.55 billion in 2017.

On June 5, 2018, analysts at Northcoast’s equities division lowered Northcoast’s rating for DENTSPLY SIRONA Inc. (NASDAQ: XRAY) shares from “Buy” to “Neutral.” Shares of DENTSPLY SIRONA Inc. (NASDAQ: XRAY) declined on June 5, 2018 to $41.63 per share.

According to the complaint the plaintiff alleges on behalf of purchasers of DENTSPLY SIRONA Inc. (NASDAQ: XRAY) common shares between February 20, 2014 through August 7, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 20, 2014 through August 7, 2018, the Defendants attributed the Company's financial performance to the Company's innovation, operational improvement efforts, new products, and continued investments in sales and marketing and told investors that these factors helped the Company succeed despite the highly competitive market for its products. In reality, the Company's financial results had been buoyed by an anticompetitive scheme among the Company's three primary distributors that suppressed competition in the dental supply market and artificially inflated the price of dental supplies sold by Dentsply. Further, Defendants concealed that an exclusive distribution arrangement that Sirona had with one of its distributors, Patterson Companies, Inc. ( Patterson ), required Patterson to regularly make large minimum purchases regardless of demand and, as a result, by 2015, Patterson had been supplied with so much excess inventory that it could not be sold. This channel-stuffing rendered the Company's reported sales, financial results and guidance materially false and misleading. In addition, the Company represented that it reported its financial statements, including its goodwill, in accordance with generally accepted accounting principles, or GAAP. In reality, the Company's reported goodwill was artificially inflated and not reported in accordance with GAAP because it did not reflect the financial impact of the anticompetitive scheme. The plaintiff says that the truth about DENTSPLY SIRONA's financial condition and business was revealed in a series of corrective disclosures. Specifically, the plaintiff claims that in a series of disclosures culminating on August 7, 2018, DENTSPLY SIRONA Inc disclosed that it was subject of an investigation by the Securities and Exchange Commission, announced the surprise departure of the Company's top three executives, repeatedly downwardly revised its guidance, and reported several quarters of disappointing financial results and significant goodwill impairment charges that were attributed to, among other things, an increase in competition and destocking from the Company's dealer partners, including Patterson. Shares of DENTSPLY SIRONA Inc (NASDAQ: XRAY) declined from $68.47 per share in early 2018 to as low as $33.93 per share in late October 2018.