NEW YORK, Nov. 20, 2015 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Sientra, Inc. ("Sientra" or the "Company") (NASDAQ: SIEN) and certain of its officers. The class action, filed in United States District Court, Central District of California, and docketed under 15-cv-07548, is on behalf of a class consisting of all persons or entities who purchased Sientra securities between March 18, 2015 and September 24, 2015 inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
If you are a shareholder who purchased Sientra securities during the Class Period, you have until November 24, 2015 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at email@example.com or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Sientra is a medical aesthetics company that develops and sells medical aesthetics products to plastic surgeons. Sientra offers silicone gel breast implants for use in breast augmentation and breast reconstruction procedures, as well as breast tissue expanders. Sientra also provides body contouring and other implants, including gluteal, pectoral, calf, facial, and nasal implants.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, prospects and performance. Specifically, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Sientra's exclusive reliance on Silimed's Brazilian manufacturing facilities carried significant quality control risks; (ii) the manufacturing processes at the Silimed Rio de Janeiro manufacturing plant were contaminated; and (iii) as a result of the above, the Company's statements regarding quality control and other financial statements were materially false and misleading at all relevant times.
On September 24, 2015, it was announced that the United Kingdom's Medicines and Healthcare Products Regulatory Agency ("MHRA") had suspended sales of Silimed products after an audit of Silimed's manufacturing processes revealed contamination in Silimed's Rio de Janeiro manufacturing plant.
On this news, shares of Sientra fell $10.88, or nearly 52.9%, to close at $9.70 on September 24, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT: Robert S. Willoughby Pomerantz LLP firstname.lastname@example.org
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