Aurinia Pharmaceuticals Inc. CLASS ACTION Alert: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Aurinia Pharmaceuticals Inc.

 
 

  LEAD PLAINTIFF DEADLINE IS JUNE 14, 2022   

 

Wolf Haldenstein Adler Freeman & Herz LLP reminds investors  that a federal securities class action lawsuit has been filed against Aurinia Pharmaceuticals Inc. ("Aurinia" or the "Company") (NASDAQ: AUPH) in the United States District Court for the Eastern District of New York on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Aurinia securities between May 7, 2021 and February 25, 2022 both dates inclusive (the "Class Period").

 
 

  (PRNewsfoto/Wolf Haldenstein Adler Freeman ) 

 
 

  All investors who purchased the shares of   Aurinia Pharmaceuticals Inc.   and incurred losses are  advised   to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website,    www.whafh.com.   

 

If you have incurred losses in Aurinia Pharmaceuticals Inc., you may, no later than June 14, 2022   , request that the Court appoint you lead plaintiff of the proposed class. Please contact   Wolf Haldenstein   to learn more about your rights as an investor in Aurinia Pharmaceuticals Inc.

 

   PLEASE CLICK HERE TO JOIN THE CASE   

 

Aurinia is a biopharmaceutical company that develops and commercializes therapies to treat various diseases with unmet medical need in Japan and the People's Republic of China.  The Company's only product is LUPKYNIS, which it offers for the treatment of adult patients with active lupus nephritis.

 

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:

 
  • Aurinia was experiencing declining revenues;
  •  
  • Aurinia's 2022 sales outlook for LUPKYNIS would fall well short of expectations;
  •  
  • accordingly, the Company had significantly overstated LUPKYNIS's commercial prospects;
  •  
  • as a result, the Company had overstated its financial position and/or prospects for 2022; and
  •  
  • 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.

 

On 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 .

 

   Wolf Haldenstein   has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York , Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

 

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact   Wolf Haldenstein   by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com.  

 

Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.  
Gregory Stone , Director of Case and Financial Analysis
Email: gstone@whafh.com , donovan@whafh.com or classmember@whafh.com  
Tel: (800) 575-0735 or (212) 545-4774

 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

 
 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/aurinia-pharmaceuticals-inc-class-action-alert-wolf-haldenstein-adler-freeman--herz-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-in-the-united-states-district-court-for-the-eastern-district-of-new-york-ag-301537827.html  

 

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP

 
 

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