The Bragar Eagel & Squire law firm is investigating claims against Dentsply Sirona on behalf of long-term stockholders.
Six notes:
1. The law firm is looking into whether the dental technology company's board of directors breached their fiduciary duties, according to a Jan. 29 news release.
2. The investigation follows a class-action lawsuit filed against Dentsply Sirona in November alleging securities fraud.
3. The lawsuit alleges that Dentsply Sirona and certain executive officers made false and misleading statements and failed to disclose adverse information about its business, operations and prospects, particularly related to its Byte clear aligners.
4. Dentsply Sirona voluntarily suspended the sale and marketing of its Byte clear aligners and impression kits Oct. 24 while reviewing regulatory requirements. The company also paused shipment and processing of new and recently placed orders for the products.
5. Byte disclosed in an Oct. 25 notice on its website that its patient onboarding workflow "may not provide adequate assurance that certain contraindicated patients do not enter treatment with Byte aligners." This conclusion followed a review of medical device reports related to its aligners and discussions with the FDA.
6. Dentsply Sirona announced earlier this month that it would reposition Byte within its aligner portfolio and expand in-person dentist oversight for the clear aligner brand.
Becker's has contacted Dentsply Sirona for comment and will update this article if more information becomes available.