Sienna Senior Living Inc. – Proposed Class Action Discontinued
MARKHAM, Ontario, Nov. 02, 2018 (GLOBE NEWSWIRE) — Sienna Senior Living Inc. (“Sienna” or the “Company”) (TSX: SIA) provides an update to the proposed class action that was launched against the Company in May 2018.
On October 25, 2018, the Ontario Superior Court of Justice issued an order discontinuing the proposed class action as a class action. The Company expects that this will be an individual claim and any potential liability pursuant to such claim will be covered by insurance and should therefore not have a material adverse impact on the business.
Sienna has a strong track record of providing quality senior living services and care. Sienna’s Care Communities in Ontario and BC outperform provincial and national averages on the majority of Canadian Institute for Health Information publicly reported quality indicators, have a high resident satisfaction score, and have achieved the highest accreditation standards from the Commission on Accreditation of Rehabilitation Facilities (CARF Canada) and Accreditation Canada.
“We are pleased with the Court order discontinuing the proposed class action and are proud of the care and services our team members provide to help residents live fully every day,” said Lois Cormack, President and Chief Executive Officer of Sienna.
ABOUT SIENNA SENIOR LIVING
Sienna Senior Living Inc. (TSX:SIA) is a leading seniors’ living provider with 87 seniors’ living residences in key markets in Canada. Sienna offers a full range of seniors’ living options, including independent and assisted living, long-term and residential care, and specialized programs and services. Sienna also provides expert management services. Sienna is committed to national growth, while driving long-term value for shareholders. The Company’s approximately 12,000 employees are passionate about helping residents live fully every day, and were the driving force behind Sienna being named one of Canada’s Most Admired Corporate Cultures in 2017. For more information, please visit www.siennaliving.ca.
Certain of the statements contained in this news release regarding the Company’s expectations are forward-looking statements and are provided for the purpose of presenting information about management’s current expectations. These statements are subject to significant known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future results. The forward-looking statements in this news release are based on information currently available and what management currently believes are reasonable assumptions. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.
FOR FURTHER INFORMATION, PLEASE CONTACT:
President & Chief Executive Officer
Chief Financial Officer & Chief Investment Officer