NEW YORK, June 3, 2022 – Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH).
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The lawsuit seeks to recover losses for shareholders who purchased Aurinia Pharmaceuticals Inc. between May 7, 2021 and February 25, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 14, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Aurinia Pharmaceuticals Inc. issued materially false and/or misleading statements and/or failed to disclose 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
This article was shared with Prittle Prattle News as a Press Release.