Aurinia Pharmaceuticals Inc. (AUPH)
Class Action & Lead Plaintiff Deadline: June 14, 2022
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aurinia Pharmaceuticals Inc. (“Aurinia” or the “Company”) (NASDAQ: AUPH) and certain of its officers, on behalf of all persons and entities that purchased Aurinia securities between May 7, 2021 and February 25, 2022, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Aurinia was experiencing declining revenues; (2) Aurinia’s 2022 sales outlook for LUPKYNIS would fall well short of expectations; (3) accordingly, the Company had significantly overstated LUPKYNIS’s commercial prospects; (4) as a result, the Company had overstated its financial position and/or prospects for 2022; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On February 28, 2022, Aurinia issued a press release announcing its financial results for the quarter and full year ended December 31, 2021. Among other items, Aurinia reported a year-over-year revenue decline and announced a lower-than-expected sales outlook for 2022. Following this news, Aurinia’s common share price fell $3.94 per share, or 24.26%, to close at $12.30 per share on February 28, 2022.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Aurinia you have until June 14, 2022, 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.