Levi & Korsinsky announces the filing of a class action lawsuit in the United States District Court for the Central District of California on behalf of shareholders of Sientra, Inc. (NASDAQGS: SIEN) who purchased shares between March 18, 2015 and September 24, 2015.
The complaint alleges that defendants failed to disclose that Sientra’s exclusive reliance on Silimed’s Brazilian manufacturing facilities carried significant quality control risks and that the manufacturing processes at the Silimed Rio de Janeiro manufacturing plant were contaminated. On March 18, 2015, Sientra filed its Form 10-K with the U.S. Securities and Exchange Commission, which stated that it was primarily responsible for the manufacturing and quality assurance of its products. On September 24, 2015, the United Kingdom’s Medicines and Healthcare Products Regulatory Agency suspended sales of Silimed products after an audit of Silimed’s manufacturing processes revealed contamination in the manufacturing plant. On this news, Sientra stock fell $10.88, or nearly 52.9%, to close at $9.70 per share on September 24, 2015. If you suffered a loss in Sientra you have until November 24, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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