NEW ORLEANS, June 07, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 1, 2022 to file lead plaintiff applications in a securities class action lawsuit against Dentsply Sirona, Inc. (NasdaqGS: XRAY), if they purchased the Company’s shares between June 9, 2021 and May 9, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of Ohio.
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Dentsply investors should visit us at https://claimsfiler.com/cases/nasdaq-xray-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Dentsply and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 19, 2022, the Company disclosed the sudden termination of CEO Donald Casey “effective immediately.” On this news, shares of Dentsply fell by $6.52 per share, or 13%, from $48.72 per share to $42.20 per share. Then, on May 10, 2022, the Company disclosed an ongoing investigation by the Audit and Finance Committee of the Board of Directors, outside counsel and a forensic accounting firm into whether “former and current members of senior management” used improper means to achieve executive compensation goals and other matters relating to financial reporting, which resulted in the Company being unable to timely file its Form 10-Q for the first quarter ended March 31, 2022. On this news, shares of Dentsply fell by $2.87 per share, or 7%, from $39.25 per share to $36.38 per share.
The case is City of Miami General Employees’ & Sanitation Employees’ Retirement Trust v. Casey, Jr., No. 2:22-cv-02371.
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