LOS ANGELES, May 11, 2022 /PRNewswire/ -- The Law Offices of Frank R. Cruz continues its investigation of Dentsply Sirona Inc. ("Dentsply" or the "Company") (NASDAQ: XRAY) on behalf of investors concerning the Company's possible violations of federal securities laws.
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On April 19, 2022, Dentsply stated that the Company's Chief Executive Officer had been terminated, effective immediately, and will "cease to serve as a member of the Company's Board."
On this news, Dentsply's stock fell $6.52, or 13.4%, to close at $42.20 per share on April 19, 2022, thereby injuring investors.
Then, on May 10, 2022, the Company stated that it could not timely file its first quarter 2022 quarterly report due to "an internal investigation of allegations regarding certain financial reporting matters." Specifically, the investigation concerned "the Company's use of incentives to sell products to distributors in the third and fourth quarters of 2021 and whether those incentives were appropriately accounted for and the impact of those sales was adequately disclosed."
On this news, Dentsply's stock fell $2.87, or 7.3%, to close at $36.38 on May 10, 2022, thereby injuring investors further.
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If you purchased Dentsply securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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SOURCE The Law Offices of Frank R. Cruz, Los Angeles
