CEDARHURST, N.Y., Feb. 11, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Kuznicki Law PLLC issues
the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in
these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff
and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a
settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from
investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff
and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is
not required to partake in any recovery.
Dentsply Sirona, Inc. (NASDAQ: XRAY)
Investors Affected: (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
A class action has commenced on behalf of certain shareholders in Dentsply Sirona, Inc. According to the complaint, 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.
Shareholders may find more information at https://kseclaw.com/securities/dentsply-sirona-inc/?wire=3
Immunomedics, Inc. (NASDAQ: IMMU)
Investors Affected: August 23, 2018 - December 20, 2018
A class action has commenced on behalf of certain shareholders in Immunomedics, Inc. The complaint alleges that, throughout the
class period, defendants made false and misleading statements. The United States Food & Drug Administration issued citations
against Immunomedics for multiple violations at its Morris Plains, New Jersey facility. The FDA citations included the manipulation
of bioburden samples, backdating of records, and misrepresentation of integrity test procedures. Based on these facts, the
Company’s public statements were false and materially misleading throughout the class period. On December 17, 2018,
FDAnews.com published an article entitled “FDA Hits Immunomedics for Data Integrity Breach.” Upon this news, Immunomedics’ stock
price fell sharply, damaging investors.
Shareholders may find more information at https://kseclaw.com/securities/immunomedics-inc/?wire=3
AxoGen, Inc. (NASDAQ: AXGN)
Investors Affected: August 7, 2017 - December 18, 2018
A class action has commenced on behalf of certain shareholders in AxoGen, Inc. The filed complaint alleges that defendants made
materially false and/or misleading statements and/or failed to disclose that: (1) the Company aggressively increased prices to mask
lower sales; (2) the Company’s pricing alienated customers and threatened the Company’s future growth; (3) ambulatory surgery
centers form a significant part of the market for the Company’s products; (4) such centers were especially sensitive to price
increases; (5) the Company was dependent on a small number of surgeons whom the Company paid to generate sales; (6) the Company’s
consignment model for inventory was reasonably likely to lead to channel stuffing; (7) the Company offered purchase incentives to
sales representatives to encourage channel stuffing; (8) the Company’s sales representatives were encouraged to backdate revenue to
artificially inflate metrics; (9) the Company lacked adequate internal controls to prevent such channel stuffing and backdating of
revenue; (10) the Company’s key operating metrics, such as number of active accounts, were overstated; and (11) as a result of the
foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading
and/or lacked a reasonable basis.
Shareholders may find more information at https://kseclaw.com/securities/axogen-inc/?wire=3
Astec Industries, Inc. (NASDAQ: ASTE)
Investors Affected: July 26, 2016 - October 22, 2018
A class action has commenced on behalf of certain shareholders in Astec Industries, Inc. The complaint alleges that throughout
the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding Astec’s
business, operations and prospects, including that its wood pellet plants suffered from significant and costly problems that
prevented them from running at their promised production capacity, posing a threat to the Company’s pellet plant business, its
overall financial performance, and its financial outlook. As a result of this information being withheld from the market, the price
of Astec stock was artificially inflated to a high of nearly $70 per share during the Class Period.
Shareholders may find more information at https://kseclaw.com/securities/astec-industries-inc/?wire=3
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in
good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading
statements or the omission of material information by a Company lead to artificial inflation of the Company's stock.
CONTACT:
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 334
Cedarhurst, NY 11516
Email: dk@kclasslaw.com
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967
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