On September 10, 2025, District Judge Nina Gershon of the U.S. District Court for the Eastern District of New York granted final approval of an $84 million settlement of a securities class action lawsuit alleging that Dentsply Sirona, Inc. (NASDAQ: XRAY) and several of its officers made material misrepresentations and omissions regarding a build-up of inventory at one of its major distributors. A more detailed description of the Action is set forth in paragraphs 11-29 of the Notice of Settlement, available here.
In March 2019, the Strathclyde Pension Fund, represented by Barrack, Rodos & Bacine as Lead Counsel, was appointed to lead the action on behalf of former Dentsply Intl. and Dentsply Sirona shareholders. The firm vigorously litigated the case over six years by:
- successfully opposing defendants’ motion to dismiss;
- reviewing several millions of pages of documents produced by defendants and certain non-parties;
- taking and defending multiple fact witness and expert depositions on the merits of the case and related to lead plaintiff’s motion for class certification; and
- fully briefing the motion to certify the class, a motion for judgment on the pleadings, and various discovery-related motions.
In January 2025, after mediation sessions overseen by the Honorable Layn R. Phillips of Phillips ADR Enterprises and while preparing to take certain additional fact witness depositions, the parties agreed to settle the action for $84 million, when both sides accepted the mediator’s settlement recommendation.
On May 16, 2025, the Court issued a Preliminary Approval Order for the settlement and directed that the Notice and Claim Form be issued and made available to all potential Settlement Class Members. Pursuant to the Court’s order, the firm worked with A.B. Data, Ltd., the Court-appointed notice and claims administrator, to disseminate the Notice to potential Settlement Class Members.
On September 10, 2025, after receiving no objections to approval of any aspect of the settlement, the parties presented the settlement to the Court for final approval. Judge Gershon thoroughly evaluated and approved the settlement, commending both Strathclyde and Barrack Rodos & Bacine for the work done in this litigation, noting that “$84 million is a great deal of money” and recognizing that the attorneys “proceeded in an excellent, professional manner” throughout the course of the litigation and its settlement. The primary firm attorneys who worked on the case were Jeffrey W. Golan, Robert A. Hoffman (retired), Chad A. Carder, Michael A. Toomey and Jordan R. Laporta.
Settlement class members have until October 10, 2025 to file a proof of claim form, which they may do through the website established for the settlement available here. The website also includes instructions for how to mail or email claims as well as directions for seeking additional information from A.B. Data.