Investor Who Suffered Losses in Aurinia Pharmaceuticals Stock Files Aurinia Pharmaceuticals Class Action Lawsuit

Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH)

NASHVILLE, TENNESSEE, UNITED STATES, May 9, 2022 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 20 years, reminds investors that a purchaser of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934. The Aurinia class action lawsuit seeks to represent purchasers of Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) securities between May 7, 2021 and February 25, 2022 inclusive (the “Class Period”). Commenced on April 15, 2022, the Aurinia class action lawsuit – captioned Ortmann v. Aurinia Pharmaceuticals Inc., No. 22-cv-02185 (E.D.N.Y.) – charges Aurinia and certain of its top executive officers with violations of the Securities Exchange Act of 1934.

If you suffered losses as a result of Aurinia’s misconduct, click here.

Aurinia Accused of Misleading Shareholders

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

The Aurinia class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Aurinia was experiencing declining revenues; (ii) Aurinia’s 2022 sales outlook for LUPKYNIS would fall well short of expectations; (iii) accordingly, Aurinia had significantly overstated LUPKYNIS’ commercial prospects; (iv) as a result, Aurinia had overstated its financial position and/or prospects for 2022; and (v) thus, Aurinia’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 by more than 24%, damaging investors.

Lead plaintiff motions for the Aurinia class action lawsuit must be filed with the court no later than June 14, 2022.

Aurinia Shareholders Urged to Contact the Firm

If you purchased Aurinia securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click here or contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell^® and ALM as a 2020 Top Ranked Lawyer and a 2020 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.classactionlawyertn.com
SOURCE: The Law Offices of Timothy L. Miles

Timothy L. Miles
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