The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased the common stock of Dentsply Sirona, Inc. (“Dentsply” or the “Company”) (Nasdaq: XRAY) from June 9, 2021 through May 9, 2022, inclusive (the “Class Period”).
If you purchased Dentsply common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than August 1, 2022. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.
Dentsply investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should click here, text or email investorinfo@lchb.com, or call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358.
Background on the Dentsply Securities Class Litigation
Dentsply, headquartered in Charlotte, North Carolina, produces dental supplies, including anesthetics, plaque and gum disease prevention, tooth polishers, and artificial teeth.
The action alleges that, throughout the Class Period, defendants made materially false or misleading statements and/or failed to disclose that: (1) the Company had improperly recognized revenue tied to certain dealer incentive or rebate programs to enable Dentsply executives to meet certain compensation targets; and (2) consequently, Dentsply’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles and Securities and Exchange Commission (“SEC”) rules, and the Company’s internal controls over financial reporting were materially deficient.
On April 19, 2022, Dentsply announced that Donald J. Casey, the Company’s Chief Executive Officer, had been terminated, effective immediately. On this news, the price of Dentsply shares fell $6.52 per share, or 13.38%, from its closing price of $48.72 on April 18, 2022, to close at $42.20 per share on April 19, 2022, on extremely heavy trading volume.
On May 10, 2022, Dentsply announced that following reports by internal whistleblowers, the Audit and Finance Committee of its Board of Directors (the “Audit Committee”) had started an investigation into certain financial reporting by Dentsply, including “the Company’s use of incentives to sell products to distributors in the third and fourth quarters of 2021” and “whether those incentives were appropriately accounted for” in the Company’s SEC filings. Additionally, Dentsply revealed that the Audit Committee was investigating whether “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.” On this news, the price of Dentsply shares fell $2.87 per share, or 7.31%, from its closing price of $39.25 on May 9, 2022, to close at $36.38 per share on May 10, 2022, on heavy trading volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” Benchmark Litigation has named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”
For more information about Lieff Cabraser and the firm’s representation of investors, please visit https://www.lieffcabraser.com/.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220609005145/en/
#XRAY INVESTORS: August 1, 2022 Deadline in #Securities #ClassAction – Contact Lieff Cabraser #StockNews #DentsplySirona $XRAY
Contacts
Source/Contact for Media Inquiries Only
Sharon M. Lee
Lieff Cabraser Heimann & Bernstein, LLP
Telephone: 1-800-541-7358
