This lawsuit is for anyone who acquired securities in Dentsply Sirona, Inc. (NASDAQ: XRAY) from June 9, 2021 through May 9, 2022.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by manipulating the way in which Dentsply recognized revenue tied to certain distributor rebate and incentive programs as part of a scheme to inflate the Company’s revenue and earnings so as to increase executive compensation attached to those earnings.
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 the Company's stock dropped precipitously on unusually heavy trading volume. 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 the Company's stock again dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Dentsply Sirona, Inc. (NASDAQ: XRAY) from June 9 ,2021 through May 9, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.