The Securities and Exchange Commission has concluded its investigation into Dentsply Sirona and will not recommend any enforcement action against the company.
Four notes:
1. The SEC launched its investigation after Dentsply Sirona initiated an internal audit of financial reporting matters in 2022.
2. Through its internal audit, Dentsply Sirona said it identified “weaknesses in the company’s internal control over financial reporting.” It also determined financial statements and related disclosures for the months leading up to Sept. 30, 2021, and for the 2021 fiscal year were unreliable because of “certain misstatements contained in those financial statements.”
3. The company replaced several leaders amid the audit, including its CEO, CFO and executive vice president, chief accounting officer and senior vice president and chief commercial officer.
4. Dentsply Sirona said Oct. 14 that it views the conclusion of the SEC’s investigation as a “significant and favorable development.”
