We go to the system S' that moves with the dielectric (velocity $+\beta c$relative to the laboratory). In S':
The external magnetic field transforms as $B' = \gamma B, \qquad \gamma = \frac{1}{\sqrt{1-\beta^2}}$ An electric field induced by the motion appears: $E' = \gamma \beta B \quad (\text{in CGS}), \qquad E' = \gamma v B \quad (\text{in SI})$. This field is perpendicular to the plates.
In S' the dielectric plate is at rest. The magnetic field B' does not act on it (there are no magnetic properties). The electric field E' is reduced inside the dielectric according to the boundary condition for the electric displacement $(D'_\perp continuous)$:
We return to S by applying a boost of velocity $+\beta c$to the fields inside the dielectric. Since in S' there is no magnetic field inside the dielectric $(B'_{\text{diel}} = 0)$