SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Dentsply Sirona (Nasdaq- XRAY)
BALA CYNWYD – June 13, 2024 /NewsFile/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Dentsply Sirona (“Dentsply Sirona” or the “Company”) (Nasdaq – XRAY) for possible breaches of fiduciary duty and other violations of federal and state law.
A securities fraud complaint has been filed against Dentsply Sirona on behalf of investors who purchased shares of Dentsply Sirona between June 9, 2021 and November 13, 2022. According to the complaint, during that time period Dentsply and certain of the Company’s senior executive officers materially misrepresented the company’s financial and operational results for the second half of fiscal 2021 by engaging in “channel stuffing,” “off-book arrangements,” “enhanced incentives” to end-users, and the delayed issuance of rebate checks. Recently, the court presiding over that case denied the Company’s motion to dismiss in part, allowing the case to move forward.
The filed complaint further states that on April 19, 2022, the Company disclosed the sudden termination of CEO Donald Casey “effective immediately.” Then, on May 10, 2022, the Company disclosed an ongoing investigation by its Audit and Finance Committee, outside counsel and a forensic accounting firm into whether “former and current members of senior management” used improper means to achieve executive compensation goals and other matters relating to financial reporting, which resulted in the Company being unable to timely file its Form 10-Q for the first quarter ended March 31, 2022.
The investigation seeks to determine whether members of Dentsply Sirona’ board of directors violated the securities laws and/or breached their fiduciary duties in connection with the allegations leveled in the complaint. If you purchased or acquired shares of Dentsply Sirona stock prior to April 11, 2022, and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.