Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Dentsply Sirona Inc. (XRAY) Investors

Shareholders with $1,000,000 losses or more are encouraged to contact the firm.

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been 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”). Dentsply investors have until August 1, 2022 to file a lead plaintiff motion.

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 [e-mail] 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.

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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 ask the Court to appoint you as lead plaintiff. To be a member of the Class 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. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, 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 [e-mail], 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.