Kirby McInerney LLP Announces an Investigation of Shareholder Claims on Behalf of Dentsply Sirona Inc. (XRAY) Investors
The law firm of Kirby McInerney LLP is investigating potential claims against Dentsply Sirona Inc. ("Dentsply" or the "Company") (NASDAQ: XRAY). The investigation concerns whether Dentsply has violated the federal securities laws and/or engaged in other unlawful business practices.
Dentsply is a dental equipment manufacturer and dental consumables producer that markets its products in over 120 countries.
On April 19, 2022, Dentsply stated that the Company's Chief Executive Officer had been terminated, effective immediately, and will "cease to serve as a member of the Company's Board." On this news, the price of Dentsply stock declined by $6.52 per share, or approximately 13.38%, from $48.72 per share to close at $42.20 per share on April 19, 2022.
Then, on May 10, 2022, the Company stated 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 concerned 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 those sales was adequately disclosed." On this news, the price of Dentsply stock declined by $2.87 per share, or approximately 7.3%, from $39.25 per share to close at $36.38 per share on May 10, 2022.
If you purchased or otherwise acquired Dentsply securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website: http://www.kmllp.com.
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