NEW YORK, Dec. 21, 2018 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that class action complaints have been
filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to
request that the court appoint you as lead plaintiff.
Welbilt, Inc. (NYSE: WBT)
Class Period: February 24, 2017 to November 2, 2018
Lead Plaintiff Deadline: February 11, 2019
The lawsuit alleges that throughout the class period, Welbilt, Inc. made materially false and/or misleading
statements and/or failed to disclose that: (i) the Company lacked effective internal control over financial reporting; (ii) the
Company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii)
as a result of the foregoing, Defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading
and/or lacked a reasonable basis.
On November 5, 2018, Welbilt filed a Form 8-K for its Q3 2018, stating that “During the third quarter of 2018,
the Company identified errors in the tax basis of a foreign subsidiary and incorrect amortization of the intangible assets held by
the same entity… In addition, the Company discovered certain intercompany transactions were not recorded on a timely basis.” As a
result of these errors, Welbilt announced that “the consolidated financial statements of the Company as of and for the year ended
December 31, 2016 will be restated, and as of and for the years ended December 31, 2015 and 2017 are expected to be revised.”
Get additional information about the WBT lawsuit: http://www.kleinstocklaw.com/pslra-1/welbilt-inc-loss-submission-form?wire=3
XPO Logistics, Inc. (NYSE: XPO)
Class Period: February 26, 2014 to December 12, 2018
Lead Plaintiff Deadline: February 12, 2019
The lawsuit alleges that XPO Logistics, Inc. made materially false and/or misleading statements and/or failed to
disclose that: (i) XPO’s highly touted aggressive M&A strategy had yielded only minimal returns to the Company; (ii) XPO was
utilizing improper accounting practices to mask its true financial condition, including, inter alia, under-reporting of bad debts
and aggressive amortization assumptions; and (iii) as a result, the Company’s public statements were materially false and
misleading at all relevant times.
Get additional information about the XPO lawsuit: http://www.kleinstocklaw.com/pslra-1/xpo-logistics-inc-loss-submission-form?wire=3
Dentsply Sirona, Inc. (NASDAQ: XRAY)
Class Period: (i) all persons who purchased the common stock of Dentsply Sirona, Inc. (NASDAQ: XRAY) between February 20, 2014 and
August 7, 2018; (ii) all Dentsply International Inc. shareholders who held shares as of the record date of December 2, 2015 and
were entitled to vote with respect to the Acquisition at the January 11, 2016 special meeting of Dentsply International Inc.
shareholders; and (iii) all persons who purchased or otherwise acquired the common stock of Dentsply International in exchange for
their shares of common stock of Sirona in connection with the Acquisition
Lead Plaintiff Deadline: February 9, 2019
The complaint alleges that during the Class Period, Defendants attributed the Company’s financial performance to
the Company’s “innovation,” “operational improvement efforts,” “new products,” and “continued investments in sales and marketing”
and told investors that these factors helped the Company succeed despite the “highly competitive” market for its products. In
reality, the Company’s financial results had been buoyed by an anticompetitive scheme among the Company’s three primary
distributors that suppressed competition in the dental supply market and artificially inflated the price of dental supplies sold by
Dentsply. Further, Defendants concealed that an exclusive distribution arrangement that Sirona had with one of its distributors,
Patterson Companies, Inc. (“Patterson”), required Patterson to regularly make large minimum purchases regardless of demand and, as
a result, by 2015, Patterson had been supplied with so much excess inventory that it could not be sold. This channel-stuffing
rendered the Company’s reported sales, financial results and guidance materially false and misleading. In addition, the Company
represented that it reported its financial statements, including its goodwill, in accordance with generally accepted accounting
principles, or GAAP. In fact, the Company’s reported goodwill was artificially inflated and not reported in accordance with GAAP
because it did not reflect the financial impact of the anticompetitive scheme.
Get additional information about the XRAY lawsuit: http://www.kleinstocklaw.com/pslra-1/dentsply-sirona-inc-loss-submission-form?wire=3
Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. There is no cost or
obligation to you. If you suffered a loss during the class period and wish to obtain additional information, please contact J.
Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud
throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
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