April 24, 2015
Bernstein Liebhard LLP is investigating whether (i) Aerie Pharmaceuticals, Inc. (“Aerie” or the “Company”) (NASDAQ: AERI) issued materially false and misleading statements to investors in violation of the federal securities laws; or (ii) the Board of Directors of Aerie breached their fiduciary duties to shareholders.
Aerie is a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of first-in-class therapies for the treatment of patients with glaucoma and other diseases of the eye. The Company’s lead product candidate is Rhopressa. Rhopressa is a once-per-day eye drop that is designed to reduce fluid pressure inside the eye in patients with glaucoma or ocular hypertension. Rhopressa was in a recent drug trial that compared it to an older, twice-per-day eye drop called timolol. The study was designed to show that Rhopressa was not inferior to timolol at reducing intraocular pressure after two weeks, six weeks, and 90 days of treatment.
On April 23, 2015, after the market closed, Aerie announced that Rhopressa failed to achieve its primary efficacy endpoint of non-inferiority to (no worse than) timolol. As a result, Aerie stock plummeted $23.92 per share, or almost 70% percent, to $11.47 in late trading on April 23, 2015. Over the past year, the stock has traded between $13.66 and $35.89 per share.
Tellingly, only ten days earlier, Aerie Director Anand Mehra sold $15 million in Aerie stock.
If you are interested in discussing your rights as an Aerie shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.