Friday, September 30, 2022
Home > HEALTHCARE > CEO of California’s Breast Implant Company Sued by the SEC

CEO of California’s Breast Implant Company Sued by the SEC

Sientra

Chief Executive of Sientra, a US based medical aesthetics company, Hani Zeini was accused by the U.S. Securities and Exchange Commission for deceitfully secreting the problems faced in breast and other implants by the company for which it raised $61.4 million in a public stock offering.

Zeini has been accused for deliberately letting the offering to close on September 23, 2015 even after knowing that the company’s sole supplier was suspended after the adulteration detected in the manufacturing process during the audit.

As stated by the Securities and Exchange Commission, Zeini has been hiding the “damaging” specifics from “every other professionals” such as the Chief Financial Officer, Directors, lawyers, Auditors and Bankers who working on his California based company’s offerings. “Zeini acted knowingly, recklessly and without reasonable care,” said the SEC. While seeking a civil fine to be levied on Zeini, the SEC has filed a lawsuit within the U.S. District Court of Los Angeles.

Seintra’s recent stock prices, which have been plummeted substantially.Sientra

                                                                                          Source: NASDAQ

Possibility of cancer in women after breast implants:

A report was released in March 21 2018, by the Federal Food and Drug Administration which displayed the traces of an unusual kind of cancer associated to the breast implants that have erupted in about 400 women in the past years with about 10-15 deaths happened because of the same. This type of cancer is basically associated to anaplastic large-cell lymphoma, which is an immune system’s malice and is more likely to occur with textured coated implants. As stated by FDA, the possibility of women prone to the cancer caused by breast implants differentiates from 1 in 30,000 to 1 in 3,817.