SAN FRANCISCO, Aug. 14, 2023 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of Dentsply Sirona, Inc. (NASDAQ: XRAY) concerning an alleged unlawful scheme to inflate revenue and earnings that resulted in an accounting restatement.
Dentsply is one of the world's largest dental equipment manufacturers. Dentsply and certain of its former executives are currently defendants in securities class action lawsuits filed in the U.S. District Court for the Southern District of New York. The plaintiffs allege that: (a) Dentsply bifurcated its executive compensation plan to incentivize its executives to manage COVID-19 related business pressures; (b) to meet the plan's targets, Dentsply's executives inflated company revenue and earnings by manipulating Dentsply's revenue recognition practices and distributor rebate and incentive programs; (c) despite this "channel stuffing," Dentsply reassured investors about the integrity of the company's accounting practices and falsely attributed the company's success to its "team's disciplined performance"; and (d) accordingly, Dentsply's public statements were materially false and misleading. When the truth was revealed, several key company executives abruptly resigned or were fired. These circumstances prompted an internal company investigation and a financial restatement. A related SEC investigation is ongoing.
The Schubert Firm is investigating potential wrongdoing by Dentsply's officers and directors in connection with these allegations.
If you own stock in Dentsply Sirona and wish to obtain additional information about your legal rights, please contact us today or visit our website at https://www.classactionlawyers.com/dentsplysirona.
About Schubert Jonckheer & Kolbe LLP
Schubert Jonckheer & Kolbe represents shareholders, employees, and consumers in class actions against corporate defendants, as well as shareholders in derivative actions against their officers and directors. The firm is based in San Francisco, and with the help of co-counsel, litigates cases nationwide.
Contact
Dustin L. Schubert
(415) 788-4220
dschubert@sjk.law
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SOURCE Schubert Jonckheer & Kolbe LLP
