NEW YORK, NY / ACCESSWIRE / February 16, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Aurinia Pharmaceuticals Inc. ("Aurinia" or the "Company") (NASDAQ:AUPH). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Aurinia and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 15, 2024, Aurinia disclosed in a press release that, after failing to attract bidders to acquire the Company, Aurinia would instead halt development efforts on its drug candidates AUR200 and AUR300, reduce employee headcount by approximately 25%, and repurchase up to $150 million of Company stock.
On this news, Aurinia's stock price fell $1.95 per share, or 24.47%, to close at $6.02 per share on February 15, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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