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Dentsply Sirona Inc.

Company NameDentsply Sirona Inc.
Stock SymbolXRAY
Class PeriodJune 09, 2021 to May 09, 2022
Lead Plaintiff Motion DeadlineAugust 01, 2022

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.

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