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Dentsply Sirona Deadline AlertJul 29th, 2022 18:27 EST
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Dentsply Sirona To Contact Him Directly To Discuss Their Options
New York, New York–(Newsfile Corp. – July 29, 2022) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Dentsply Sirona Inc. (“Dentsply Sirona” or the “Company”) (NASDAQ: XRAY) and reminds investors of the August 1, 2022 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Dentsply Sirona stock or options between June 9, 2021 and May 9, 2022 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/XRAY.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
The complaint alleges that, throughout the Class Period, Defendants orchestrated a scheme to inflate the Company’s revenue and earnings by manipulating its accounting for a distributor rebate program in order for senior executives to be eligible for significant cash and stock-based incentive compensation. In order to facilitate this scheme, Dentsply and its executives made numerous false and misleading statements to investors during the Class Period. As a result of Defendants’ misrepresentations, Dentsply’s common stock traded at artificially inflated prices during the Class Period.
The truth about Dentsply’s misconduct was revealed through a series of disclosures, beginning on April 19, 2022, when Dentsply announced the sudden termination of its CEO, Don Casey.
Then, on May 10, 2022, Dentsply announced that, following reports from several whistleblowers, the Audit Committee of its Board of Directors had commenced an internal investigation regarding certain financial reporting matters. Specifically, Dentsply disclosed that the Audit Committee was investigating “the Company’s use of incentives to sell products to distributors in the third and fourth quarter of 2021” and “whether those incentives were appropriately accounted for.” Further, the Audit Committee was also investigating allegations that “certain former and current members of senior management directed the Company’s use of these incentives and other actions to achieve executive compensation targets in 2021.”
As a result of these disclosures, Dentsply’s share price declined precipitously.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Dentsply Sirona’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132379