An investigation on behalf of current long term investors in Sientra Inc (NASDAQ:SIEN) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:SIEN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/16/2015 -- An investigation for shareholders in shares of Sientra Inc concerning potential breaches of fiduciary duties by certain directors of Sientra Inc was announced.
Investors who are current long term investors in Sientra Inc (NASDAQ:SIEN) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ:SIEN stocks follows a lawsuit filed recently against Sientra Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:SIEN stocks, concerns whether certain Sientra officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 18, 2015 and September 24, 2015 Defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Sientra Inc's exclusive reliance on Silimed's Brazilian manufacturing facilities carried significant quality control risks, that the manufacturing processes at the Silimed Rio de Janeiro manufacturing plant were contaminated, and that as a result of the above, Sientra Inc'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 Sientra's Silimed-brand silicone breast implants following the discovery of contamination in the company's Rio De Janeiro manufacturing plant.
Shares of Sientra Inc (NASDAQ:SIEN) declined from $24.44 per share on September 16, 2015 to as low as $9.60 per share on September 24, 2015.
On November 16, 2015, NASDAQ:SIEN shares closed at $
per share.
Those who purchased shares of Sientra Inc (NASDAQ:SIEN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com