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Gainey McKenna & Egleston announces that a 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 investors who purchased Aurinia stock between November 4, 2019 and February 24, 2022, inclusive (the "Class Period").
The Complaint alleges that Defendants failed to disclose that the Company was experiencing declining revenues and that the 2022 sales outlook for LUPKYNIS would fall short of expectations. On February 28, 2022, the Company announced its financial results for the full quarter and full year ended December 31, 2021, including a year-over-year revenue decline and lower than expected sales outlook for 2022. On this news, the Company's stock fell $3.94 per share, or 24.26%, to close at $12.30 per share on February 28, 2022.
Investors who purchased or otherwise acquired shares of Aurinia should contact the Firm prior to the June 14, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com .
Please visit our website at https://www.gme-law.com for more information about the firm.