AURINIA ALERT: Bragar Eagel & Squire, PC announces that Aurinia Pharmaceuticals, Inc. a class action lawsuit has been filed, and is urging investors to contact the company

NEW YORK – (BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder law firm, announces that a class action lawsuit has been filed against Aurinia Pharmaceuticals, Inc. (“Aurinia” or the “Company”) (NASDAQ: AUPH) in the U.S. District Court for the Eastern District of New York on behalf of all persons and entities that purchased or otherwise acquired Aurinia Securities between May 7, 2021 and February 25, 2022 including both dates (hereinafter referred to as the “class period”). Investors must apply to the court by June 14, 2022, to be appointed as the main plaintiff in the litigation.

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Aurinia is a biopharmaceutical company that develops and commercializes therapies for the treatment of various diseases with unmet medical needs in Japan and the People’s Republic of China (“China”). The only product of the company is LUPKYNIS, which offers for the treatment of adult patients with active lupus nephritis.

During the Class Period, the Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. In particular, the defendants made false and / or misleading statements and / or did not disclose that: (i) Aurinia was experiencing declining income; (ii) Aurinia’s LUPKYNIS sales outlook for 2022 will be significantly below expectations; (iii) accordingly, the Company has significantly overestimated the commercial prospects of LUPKYNIS; (iv) as a result, the Company has overestimated 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.

On February 28, 2022, Aurinia issued a press release announcing its financial results for the quarter and full year ending December 31, 2021. Among other items, Aurinia reported a year-over-year decline in sales and lower sales than expected in 2022.

Following this report, the price of Aurinia’s common stock fell by $ 3.94 per share, or 24.26%, and ended at $ 12.30 per share on February 28, 2022.

As a result of the wrongdoing and omissions of the defendants and the sharp decline in the market value of the Company’s securities, the petitioner and other members of the class suffered significant losses and damages.

If you have purchased or otherwise acquired Aurinia shares and have suffered a loss, are a long-term shareholder, have information, would like to know more about these claims or have any questions regarding this announcement or your rights or interests in relation to these matters, please contact Brandon Walker or Alexandra Raymond by email at researchs@bespc.com, by phone at (212) 355-4648 or by filling out this contact form. There are no costs or obligations for you.

About Bragar Eagel & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative and other complex litigation in state and federal courts throughout the country. You can find more information about the company at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.

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