Investigation Overview
An investigation on behalf of investors of Sirona Dental Systems, Inc. (NASDAQ:SIRO) shares over potential securities laws violations by Sirona Dental Systems, Inc. and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Sirona Dental Systems, Inc. (NASDAQ:SIRO) concerning whether a series of statements by Sirona Dental Systems, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Long Island City, NY based Sirona Dental Systems, Inc. is a manufacturer of dental equipment. The Company is focused on developing, manufacturing and marketing solutions for dentists around the world. Sirona Dental Systems, Inc. reported that its Total Revenue rose from $913.87 million for the 12 months period that ended on September 30, 2011 to over $1.17 billion for the 12 months period that ended on September 30, 2014. Shares of Sirona Dental Systems, Inc. (NASDAQ:SIRO) grew from $41.16 per share in June 2012 to as high as almost $105 per share in August 2015. On September 15, 2015 DENTSPLY International Inc. (NASDAQ: XRAY) and Sirona Dental Systems, Inc. (NASDAQ: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. (NASDAQ:SIRO) shareholders will receive 1.8142 shares of DENTSPLY for each existing Sirona Dental Systems, Inc. (NASDAQ: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. (NASDAQ:SIRO) will receive a value of approximately $97.28 per share.