A group of dentists has filed a lawsuit against Pittsburgh-based North American Dental Group and its parent company, ZAHN Parent.
The legal action was filed in the Delaware Court of Chancery with the goal of gaining insight into management decisions the dentists say changed their ownership value in the company and may have negatively affected their retirement and other financial support, according to a statement shared with Becker's.
The group asserts in the action that the DSO cannot withhold information that is reasonably necessary to evaluate the value of their equity interests or to assess potential legal claims related to their minority ownership. The dentists are seeking documentation of transactions from the last 12 months that involved the issuance of additional units that diluted their equity position.
North American Dental Group supports more than 240 locations in 15 states.
Becker's has contacted North American Dental Group for comment and will update this story as more information becomes available.