Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Dentsply Sirona Inc. (“Dentsply”) (NASDAQ: XRAY) breached their fiduciary duties to Dentsply and its shareholders.
The investigation concerns whether members of the Dentsply Board of Directors (the “Board”) made, or caused Dentsply to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about Dentsply’s business, operations, prospects, and financial health.
Further, the investigation is focusing on whether the Board failed to disclose material information, including whether: (i) Dentsply improperly recognized revenue tied to certain dealer incentives or rebate programs to allow its former CEO and CFO to meet certain incentive-based compensation targets; and (ii) as a result, whether statements about Dentsply’s business, operations, and prospects lacked a reasonable basis.
On April 19, 2022, Dentsply announced the sudden termination of its CEO. On this news, the price of Dentsply shares dropped 13%.
On May 10, 2022, Dentsply announced that the Audit Committee of the Board had commenced an internal investigation regarding Dentsply’s “use of incentives to sell products to distributors” and “whether those incentives were properly accounted for.” As a result, Dentsply was unable to file its quarterly report with the SEC. On this news, the price of Dentsply shares dropped 7%.
DENTSPLY SHAREHOLDERS ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR DENTSPLY STOCK HOLDINGS.
DENTSPLY SHAREHOLDERS MAY HAVE LEGAL CLAIMS AGAINST DENTSPLY’S DIRECTORS AND OFFICERS. IF YOU WISH TO DISCUSS THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected].
