Sientra (SIEN) Enters Prelim. Settlement of All Outstanding Class Action Litigation

October 28, 2016 8:38 AM EDT

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Sientra, Inc. (Nasdaq: SIEN) announced that it has reached an agreement to settle all shareholder class action litigation previously disclosed in the Company’s public filings with the Securities and Exchange Commission. The settlement, which will be memorialized in a stipulation of settlement, is subject to certain conditions, including applicable court approvals. The parties intend to file the stipulation of settlement and joint motions for preliminary approval promptly. Pursuant to the terms of the settlement, defendants will cause to be paid $10.9M (of which the Company’s D&O insurance carriers will pay $9.3M and the Company will pay $1.6M).

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