SAN FRANCISCO , May 12, 2022 /PRNewswire/ -- Hagens Berman urges DENTSPLY SIRONA, Inc. (NASDAQ: XRAY) investors with significant losses to submit your losses now.
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DENTSPLY SIRONA, Inc. (XRAY) Investigation:
The investigation focuses on DENTSPLY's assurances that its financial statements fairly presented in all material respects the financial condition of the company.
The assurances began to come into question on Apr. 11, 2022 when DENTSPLY announced that CFO Jorge Gomez resigned to take another job and Moderna (MRNA) announced Gomez was hired as its CFO effective May 9, 2022.
On Apr. 19, 2022, DENTSPLY announced that it fired CEO Donald M. Casey Jr. and that he ceased to serve on the company's Board of Directors, both effective immediately.
On May 10, 2022, DENTSPLY announced that its audit committee commenced an internal investigation in March 2022, before Gomez resigned and before the company fired Casey. DENTSPLY 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. In addition, DENTSPLY notified the SEC about these matters.
On May 11, 2022, Moderna (MRNA) announced that Gomez "departed" effective immediately and noted his departure follows DENTSPLY's May 10, 2022 announcement of its internal investigation into DENTSPLY's financial reporting.
These events have driven the price of DENTSPLY shares sharply lower.
"We're focused on investors' losses and whether DENTSPLY cooked its books," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in DENTSPLY SIRONA and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding DENTSPLY SIRONA should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email XRAY@hbsslaw.com.
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Contact:
Reed Kathrein, 844-916-0895
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SOURCE Hagens Berman Sobol Shapiro LLP
