Notice to Aurinia Shareholders: Robbins LLP Reminds Investors
SAN DIEGO, April 22, 2022 (GLOBE NEWSWIRE) — The class: Law firm in shareholder law Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all persons and entities who purchased or otherwise acquired securities of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) between May 7, 2021 and February 26, 2022, for violation of the Securities Exchange Act of 1934. Aurinia is a biopharmaceutical company that develops and commercializes therapies to treat diseases with unmet medical needs 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.
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What this case is about: Aurinia Pharmaceuticals Inc. has misrepresented the financial impact of its drug LUPKYNIS
According to the Complaint, throughout the Class Period, the Defendants failed to disclose that Aurinia was experiencing declining revenue and that LUPKYNIS’ 2022 sales outlook would be below expectations.
On February 28, 2022, Aurinia announced its financial results for the full quarter and full year ended December 31, 2021, including lower year-over-year revenue and weaker-than-expected sales outlook for 2022. At this news, Aurinia stock fell $3.94. per share, or 24.26%, to close at $12.30 per share on February 28, 2022.
Next steps: If you acquired shares of Aurinia Pharmaceuticals Inc. (AUPH) between May 7, 2021 and February 26, 2022, you have until June 14, 2022, to ask the court to name you as the lead plaintiff in the class. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation. You don’t have to be in the case to be eligible for a clawback.
All representation is done on a contingent fee basis. Shareholders do not pay any fees or expenses.
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About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP are dedicated to helping shareholders recoup losses, improving corporate governance structures and holding corporate executives responsible for their wrongdoings since 2002. To be notified if a class action lawsuit against Aurinia Pharmaceuticals Inc. settles or to receive free alerts when corporate executives commit wrongdoing, sign up for Watch Inventory today.
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