WILMINGTON, Del., Sept. 20, 2016 (GLOBE NEWSWIRE) -- Andrews & Springer LLC , a boutique securities class action law firm focused on representing shareholders nationwide, announces that a securities fraud class action lawsuit has been filed by another law firm on behalf of shareholders of Sientra, Inc. (NASDAQ: SIEN ) (“Sientra” or the “Company”) for possible corporate misconduct and violations of securities laws.
A copy of the complaint is available from the Court or from Andrews & Springer LLC. If you currently own shares of Sientra and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investig...estigation or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com , or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc , Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On November 5, 2015, a Sientra shareholder, represented by another law firm, filed a class action complaint against Sientra for securities fraud. The complaint was filed in the California Superior Court, San Mateo County, Case No. 536138.
According to the lawsuit, Sientra and certain of its executive officers made a series of false and misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the defendants are alleged to have made false and 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.
Following this news, shares of Sientra’s common stock declined $10.88 per share, or nearly 53%, to close at $9.70 per share on September 24, 2015.
If you currently own shares of Sientra and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investig...estigation or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com , or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc , Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com . This notice may constitute Attorney Advertising.
Contact: Craig J. Springer, Esq. cspringer@andrewsspringer.com Toll Free: 1-800-423-6013
