DENTSPLY SIRONA Inc. (XRAY)

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of DENTSPLY SIRONA Inc. ("DENTSPLY " or the "Company") (NASDAQ: XRAY). Investors who purchased DENTSPLY securities are encouraged to obtain additional information and assist the investigation.

 

The investigation concerns whether DENTSPLY and certain of its officers and/or directors have violated federal securities laws.

 

On April 11, 2022, Dentsply Sirona announced that its Chief Financial Officer (“CFO”) Jorge Gomez had resigned to take another job.  That same day, Moderna, Inc. (“Moderna”) announced that it had hired Gomez as its CFO effective May 9, 2022.  On April 19, 2022, Dentsply Sirona issued a press release announcing the termination of Chief Executive Officer Don Casey, effective immediately, and stating that Casey “will cease to serve as a member of the Company’s Board.”  On this news, Dentsply Sirona’s stock price fell $6.52 per share, or 13.38%, to close at $42.20 per share on April 19, 2022.  Then, on May 10, 2022, Dentsply Sirona announced that its audit committee commenced an internal investigation in March 2022, before Gomez resigned and before the Company fired Casey.  Dentsply Sirona said: (1) it would not timely file its quarterly financial statements for the quarter ended March 31, 2022; (2) it commenced an internal investigation of allegations regarding certain financial matters submitted by current and former company employees; (3) its investigation is focused on its use of incentives to sell products to distributors in Q3 and Q4 2021 and whether those incentives were properly accounted for and adequately disclosed in SEC filings; and, (4) the investigation includes allegations that certain former and current senior executives directed the use of the incentives to achieve executive compensation targets in 2021.  Dentsply further stated that it had notified the U.S. Securities and Exchange Commission about the foregoing matters.  On this news, Dentsply Sirona’s stock price fell $2.87 per share, or 7.31%, to close at  $36.38 per share on May 10, 2022.  Then, on May 11, 2022, Moderna announced that Gomez had “departed” effective immediately and noted that Gomez’s departure followed Dentsply Sirona’s May 10, 2022 announcement of its internal investigation into the Company’s financial reporting.

 

If you are aware of any facts relating to this investigation or purchased DENTSPLY shares you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.