According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- defendants orchestrated a scheme to inflate Dentsply’s revenue and earnings by manipulating its accounting for a distributor rebate program in order for senior executives to be eligible for significant cash and stock-based incentive compensation;
- in order to facilitate this scheme, Dentsply and its executives made numerous false and misleading statements to investors during the Class Period;
- accordingly, Dentsply’s financial statements were not prepared in accordance with GAAP and SEC rules, and Dentsply’s internal controls over financial reporting were deficient throughout the Class Period; and
- as a result of defendants’ misrepresentations, Dentsply’s common stock traded at artificially inflated prices during the Class Period.
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