SAN DIEGO, CA / ACCESSWIRE / July 18, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who formerly held Sirona Dental Systems, Inc. (SIRO) shares.
Investors, who held shares of Sirona Dental Systems, Inc. (SIRO) and received Dentsply Sirona, Inc. (NASDAQ: XRAY) as a result of the takeover, might have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that Dentsply's registration statement failed to inform investors of risks that had materialized at the time of the acquisition.
On September 15, 2015 DENTSPLY International Inc. (NASDAQ: XRAY) and Sirona Dental Systems, Inc. (SIRO) announced that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which the companies will combine in an all-stock merger of equals. Under the terms of the agreement, Sirona Dental Systems, Inc. (SIRO) shareholders received 1.8142 shares of DENTSPLY for each existing Sirona Dental Systems, Inc. (SIRO) share. Based on a closing price of $53.62 per share of DENTSPLY International Inc. shares on September 14, 2015 shareholders in Sirona Dental Systems, Inc. (SIRO) were to receive a value of approximately $97.28 per share.
On August 9, 2017, Dentsply Sirona, Inc reported an over $1 billion net loss resulting from a massive goodwill impairment charge, resulting in Dentsply Sirona, Inc losing its exclusive distribution contract with Patterson Companies, Inc, which had recently been sued for anticompetitive price-gouging. Dentsply Sirona, Inc recently disclosed that it was being investigated by the SEC regarding the company's accounting and disclosures related to transactions with a distributor.
Shares of Dentsply Sirona, Inc are currently trading at around $44 per share.
Those who held shares of Sirona Dental Systems, Inc. (SIRO) and received Dentsply Sirona, Inc. (NASDAQ: XRAY) as a result of the takeover should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
SOURCE: Shareholders Foundation, Inc.
