Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Dentsply Sirona Inc. (XRAY)
LOS ANGELES--(BUSINESS WIRE)--Jun 15, 2022--
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming August 1, 2022 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Dentsply Sirona Inc. (“Dentsply” or the “Company”) (NASDAQ: XRAY ) common stock between June 9, 2021 and May 9, 2022, inclusive (the “Class Period”).
If you suffered a loss on your Dentsply investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/dentsply-sirona-inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights.
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, Dentsply’s stock fell $6.52, or 13.4%, to close at $42.20 per share on April 19, 2022, thereby injuring investors.
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, Dentsply’s stock fell $2.87, or 7.3%, to close at $36.38 on May 10, 2022, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (i) they had improperly recognized revenue tied to certain dealer incentive or rebate programs to allow management to meet certain incentive-based compensation targets; and (ii) as a result, Dentsply’s financial statements were not prepared in accordance with applicable rules, and the Company’s internal controls over financial reporting were deficient throughout the Class Period.
If you purchased or otherwise acquired Dentsply common stock during the Class Period, you may move the Court no later than August 1, 2022 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220615005277/en/
CONTACT: Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
Copyright Business Wire 2022.
PUB: 06/15/2022 11:00 AM/DISC: 06/15/2022 11:02 AM