LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray announces that a class action has been filed on behalf of investors of Aerie Pharmaceuticals, Inc. (“Aerie Pharmaceuticals” or the “Company”) (NASDAQ: AERI), who purchased the Company’s stock between August 6, 2014 and April 23, 2015, inclusive (the, “Class Period”). Investors who purchased shares of Aerie Pharmaceuticals during the Class Period, have until June 29, 2015 to file a lead plaintiff motion. If you have information or would like to learn more about these claims, or have any questions concerning this announcement, please contact Lesley Portnoy, of Glancy Prongay & Murray, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
The Complaint alleges that the Company misled investors regarding the potential of the Company’s drug candidate, Rhopressa, and its effectiveness in treating glaucoma or ocular hypertension. The Complaint further alleges that the Company made false and misleading statements and/or failed to disclose adverse information regarding the Company’s prospects for Rhopressa, including that Rhopressa was not performing as well as an approved drug, timolol, in clinical studies and would therefore not be approved, and thereby lead to increased income and revenues for Aerie Pharmaceuticals.
On April 23, 2015, the Company 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.” On 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%, on exceptionally high volume.
If you purchased shares of Aerie Pharmaceuticals shares during the Class Period you are encouraged to contact Glancy Prongay & Murray to discuss your legal rights in connection with this pending class action.
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