The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) who purchased shares between May 7, 2021 and February 25, 2022. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Aurinia Pharmaceuticals Inc. lawsuit alleges that (i) Aurinia was experiencing declining revenues; (ii) Aurinia’s 2022 sales outlook for the Company’s only product which it offers for the treatment of adult patients with active lupus nephritis, LUPKYNIS, would fall well short of expectations; (iii) accordingly, the Company had significantly overstated LUPKYNIS’s commercial prospects; (iv) as a result, the Company had overstated its financial position and/or prospects for 2022; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until June 14, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.