NEW YORK, Oct. 02, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of Sientra, Inc. (Nasdaq:SIEN) (“Sientra” or the “Company”) securities during the period between March 18, 2015 and September 24, 2015, inclusive (the “Class Period”). Shareholders of Sientra with significant losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased the shares of Sientra during the period from March 18, 2015 and September 24, 2015, inclusive, you may, no later than November 24, 2015, request that the Court appoint you lead plaintiff of the proposed class.
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 53%, to close at $9.70 on September 24, 2015.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Sientra Investigation.”
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