Investigation Alert: Kessler Topaz Meltzer & Check, LLP is Investigating Securities Fraud Claims on Behalf of DENTSPLY SIRONA Inc. (NASDAQ: XRAY) Investors
The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of DENTSPLY SIRONA Inc. (NASDAQ: XRAY) ("Dentsply").
On April 11, 2022, Dentsply issued a press release announcing that Jorge M. Gomez, the company's Executive Vice President and Chief Financial Officer had resigned from his position, effective May 6, 2022. Then, on April 19, 2022, Dentsply issued another press release announcing that its Chief Executive Officer, Donald M. Casey Jr., had been terminated and would cease to serve as a member of the Board of Directors, effective immediately. Following this news, Dentsply's stock fell $6.52, or 13.4%, to close at $42.20 per share on April 19, 2022.
Then, on May 10, 2022, Dentsply announced that it could not timely file its first quarter 2022 quarterly report due to "an internal investigation of allegations regarding certain financial reporting matters." Specifically, the investigation concerns 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 and the impact of thse sales was adequately disclosed. In addition, the investigation concerns allegations that certain former and current members of senior management directed the company's use of incentives and other actions to achieve executive compensation targets in 2021. Following this news, Dentsply's stock fell as much as 10% during intraday trading on May 10, 2022.
If you are a Dentsply investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or E-mail at [email protected]. You can also click on the following link or paste it in your browser: https://www.ktmc.com/dentsply-sirona-inc-investigation?utm_source=PR&utm_medium=link&utm_campaign=dentsply_sirona
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
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