SAN FRANCISCO, June 09, 2015 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds investors with losses over $100,000 of the June 29, 2015 lead plaintiff deadline in a class action lawsuit filed against Aerie Pharmaceuticals, Inc. (Nasdaq:AERI) (“Aerie” or “the Company”). If you have significant losses in Aerie securities during the Class Period you may contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling (510) 725-3000, emailing AERI@hbsslaw.com or visiting http://hb-securities.com/investigations/AERI.
The suit is pending in U.S. District Court for the District of New Jersey, and investors who purchased Aerie securities between August 6, 2014 and April 23, 2015, (the “Class Period”) have until June 29, 2015 to move for lead plaintiff. No class has been certified in this case. You do not need to move for lead plaintiff to be a member of the Class. If your losses are less than $100,000, you are still eligible to be a member of the class.
The complaint alleges that during the Class Period, defendants made false and misleading statements and/or failed to disclose known adverse information regarding the Company’s prospects for its flagship glaucoma drug Rhopressa, including that Rhopressa was not performing in clinical trials as well as its primary competitor and would not lead to commercial success for Aerie. As a result of Defendants’ concealment of the truth about Rhopressa, Aerie securities traded at artificially inflated prices during the Class Period, with its stock price reaching a Class Period high of $35.39 per share.
Finally, on April 23, 2015, Aerie issued a press release announcing the results of its first Phase 3 trial for Rhopressa. According to the release, “[t]he trial did not meet its primary efficacy endpoint of demonstrating non-inferiority of IOP lowering for once-daily Rhopressa compared to twice-daily timolol, the most widely used comparator in registration trials for glaucoma.” As a result of this news, the price of Aerie stock fell $22.52 per share to close at $12.87 per share on April 24, 2015, a one-day decline of nearly 64%.
“Throughout the Class Period, Defendants touted Rhopressa as a sure bet, yet one of the directors halved his entities holdings,” said Hagens Berman partner Reed Kathrein. “Clearly, the internal view of Rhopressa was different.”
If you were negatively impacted over $100,000 by your investment in Aerie securities between August 6, 2014 and April 23, 2015, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
Whistleblowers: Persons with non-public information regarding Aeri Pharmaceuticals should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. For more information, call Reed Kathrein at (510) 725-3000 or email AERI@hbsslaw.com.
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