Please list your purchase and sale transaction(s) in the Sientra, Inc. security that is subject of this action during the Class Period (between May 15, 2015 and August 13, 2015):
Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired shares of Sientra, Inc. (Nasdaq: SIEN) (“Sientra”) between May 15, 2015 and August 13, 2015, inclusive (the “Class Period”).
According to the complaint, 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 Sientra and certain of its executive officers made a series of false and misleading statements during the Class Period, 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.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706