CEDARHURST, N.Y., Feb. 13, 2019 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is not required to partake in any recovery.
Dentsply Sirona, Inc. (NASDAQ: XRAY)
Investors Affected: (i) all persons who purchased the common stock of Dentsply Sirona, Inc. (NASDAQ: XRAY) between February 20, 2014 and August 7, 2018; (ii) all Dentsply International Inc. shareholders who held shares as of the record date of December 2, 2015 and were entitled to vote with respect to the Acquisition at the January 11, 2016 special meeting of Dentsply International Inc. shareholders; and (iii) all persons who purchased or otherwise acquired the common stock of Dentsply International in exchange for their shares of common stock of Sirona in connection with the Acquisition
A class action has commenced on behalf of certain shareholders in Dentsply Sirona, Inc. According to the complaint, during the Class Period, Defendants attributed the Company’s financial performance to the Company’s “innovation,” “operational improvement efforts,” “new products,” and “continued investments in sales and marketing” and told investors that these factors helped the Company succeed despite the “highly competitive” market for its products. In reality, the Company’s financial results had been buoyed by an anticompetitive scheme among the Company’s three primary distributors that suppressed competition in the dental supply market and artificially inflated the price of dental supplies sold by Dentsply. Further, Defendants concealed that an exclusive distribution arrangement that Sirona had with one of its distributors, Patterson Companies, Inc. (“Patterson”), required Patterson to regularly make large minimum purchases regardless of demand and, as a result, by 2015, Patterson had been supplied with so much excess inventory that it could not be sold. This channel-stuffing rendered the Company’s reported sales, financial results and guidance materially false and misleading. In addition, the Company represented that it reported its financial statements, including its goodwill, in accordance with generally accepted accounting principles, or GAAP. In fact, the Company’s reported goodwill was artificially inflated and not reported in accordance with GAAP because it did not reflect the financial impact of the anticompetitive scheme.
Shareholders may find more information at https://kseclaw.com/securities/dentsply-sirona-inc/?wire=3
Astec Industries, Inc. (NASDAQ: ASTE)
Investors Affected: July 26, 2016 – October 22, 2018
A class action has commenced on behalf of certain shareholders in Astec Industries, Inc. The complaint alleges that throughout the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding Astec’s business, operations and prospects, including that its wood pellet plants suffered from significant and costly problems that prevented them from running at their promised production capacity, posing a threat to the Company’s pellet plant business, its overall financial performance, and its financial outlook. As a result of this information being withheld from the market, the price of Astec stock was artificially inflated to a high of nearly $70 per share during the Class Period.
Shareholders may find more information at https://kseclaw.com/securities/astec-industries-inc/?wire=3
Wirecard AG (OTCMKTS: WRCDF, WCAGY)
Investors Affected: April 7, 2016 – February 1, 2019
A class action has commenced on behalf of certain shareholders in Wirecard AG. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) for the period spanning from 2015 to 2018, a senior Wirecard executive in Singapore had been accused of forging and backdating contracts, including falsifying accounts and money laundering; (2) an external law firm commissioned to investigate Wirecard’s Singapore office had reportedly found evidence of “serious offences of forgery and/or of falsification of accounts”; (3) Wirecard had downplayed weaknesses in its internal controls over financial reporting and failed to disclose the true extent of those weaknesses; and (4) as a result, defendants’ statements about Wirecard’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://kclasslaw.com/securities/wirecard-ag-loss-submission-form/?wire=3
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock.
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 334
Cedarhurst, NY 11516
Email: [email protected]
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967
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