PHILADELPHIA, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Dentsply Siorona Inc. (“Dentsply” or the “Company”) (NASDAQ: XRAY) on behalf of the Company’s stockholders.
Recently a securities fraud complaint was filed against Dentsply in federal court on behalf of investors who purchased shares of the Company’s stock between February 20, 2014 and August 7, 2018. According to the complaint, during that time period Dentsply and certain of the Company’s senior executive officers engaged in a “years-long scheme” to conceal from the market the Company’s true financial and operating condition.
As further alleged in the complaint, Dentsply’s investors learned the truth about the Company’s financial condition through a series of corrective disclosures that revealed: (i) the dire impact of the inventory backlog caused by the minimum purchase requirements on the Company’s revenues, margins and earnings; (ii) that the SEC had opened an investigation into the Company’s accounting and disclosures “relating to transactions with a significant distributor of the Company”; and (iii) billion dollar impairments to the Company’s goodwill that resulted from the inventory backlog. In total, following the relevant disclosures of the fraud, Dentsply Sirona’s stock price declined over 45% in value from its Class Period high.
The firm’s investigation seeks to determine whether the members of Dentsply’s board of directors breached their fiduciary duties to Dentsply and its stockholders in connection with the above alleged misconduct.
Current Dentsply stockholders who purchased or acquired shares of the company’s stock prior to August 7, 2018 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by email at skaskela@kaskelalaw.com or online at https://kaskelalaw.com/case/dentsply/, to discuss this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com
skaskela@kaskelalaw.com
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