HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages DENTSPLY SIRONA Inc. (XRAY) Investors with Over $1 Million Losses to Contact Firm’s Attorneys Before Aug. 1st Deadline in Securities Fraud Class Action
News provided byHagens Berman Sobol Shapiro LLP
Jul 23, 2022, 10:14 AM ET
SAN FRANCISCO, July 23, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges DENTSPLY SIRONA Inc. (NASDAQ: XRAY) investors who have suffered over $1 million losses to submit your losses now. A securities fraud class action has been filed and certain investors have an opportunity to lead the case.
DENTSPLY SIRONA Inc. (XRAY) Securities Fraud Class Action:
The litigation focuses on DENTSPLY’s assurances that its financial statements fairly presented in all material respects the financial condition of the company.
The complaint alleges Defendants orchestrated a scheme to inflate DENTSPLY’s revenues and earnings by manipulating its accounting for a distributor rebate program so that senior executives became eligible to receive significant cash and stock-based compensation.
Investors began to learn the truth on Apr. 19, 2022, when DENTSPLY announced that it terminated CEO Donald M. Casey Jr. and that he ceased to serve on the company’s Board of Directors, both effective immediately.
Then, on May 10, 2022, DENTSPLY announced that, following reports from several whistleblowers, its Audit Committee: (1) had commenced an internal investigation into the company’s use of incentives to sell products to distributors during the third and fourth quarter of 2021 and whether those incentives were appropriately accounted for; and, (2) was also investigating allegations that certain former and current senior executives directed the company’s use of these incentives and other actions to achieve executive compensation targets in 2021.
These events drove the price of DENTSPLY shares sharply lower.
“We’re focused on investors’ losses and proving DENTSPLY cooked its books,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in DENTSPLY SIRONA and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding DENTSPLY SIRONA should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email XRAY@hbsslaw.com.
About Hagens Berman
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Reed Kathrein, 844-916-0895