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Case Status:    DISMISSED    
On or around 06/20/2016 (Court's order of dismissal)

Filing Date: April 29, 2015

According to the law firm press release, Aerie is a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of therapies for the treatment of patients with glaucoma and other diseases of the eye. The Company’s lead product candidate is RhopressaTM (“Rhopressa”), a once-per-day eye drop that is designed to lower intraocular pressure (“IOP”) in patients with glaucoma or ocular hypertension. Rhopressa was in recent drug trials that were designed to show that Rhopressa was not inferior to an older, twice-per-day eye drop called timolol at reducing IOP after two weeks, six weeks, and 90 days of treatment.

The complaint alleges that during the Class Period, defendants 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 timolol and would not lead to commercial success for Aerie. As a result of these false and misleading statements and/or omissions, 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.

Then on April 23, 2015, Aerie issued a press release announcing the results of its first Phase 3 registration 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 RhopressaTM 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%.

On July 28, 2015, the Court issued an Order appointing lead plaintiff and approving lead counsel.

On June 20, 2016, the Court issued an Order granting Defendants' Motion to Dismiss and terminating this case. Lead Plaintiffs filed an amended complaint on September 28, 2016.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AERI
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. New Jersey
DOCKET #: 15-CV-03007
JUDGE: Hon. Anne E. Thompson
DATE FILED: 04/29/2015
CLASS PERIOD START: 08/06/2014
CLASS PERIOD END: 04/23/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohn, Lifland, Pearlman, Herrmann & Knopf
    Park 80 Plaza West-One, Cohn, Lifland, Pearlman, Herrmann & Knopf, NJ 7663
    201845.9600 · info@njlawfirm.com
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 15-CV-03007
JUDGE: Hon. Anne E. Thompson
DATE FILED: 09/28/2015
CLASS PERIOD START: 06/25/2014
CLASS PERIOD END: 04/23/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohn, Lifland, Pearlman, Herrmann & Knopf
    Park 80 Plaza West-One, Cohn, Lifland, Pearlman, Herrmann & Knopf, NJ 7663
    201845.9600 · info@njlawfirm.com
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  3. Sullivan, Ward, Asher & Patton, P.C.
    25800 Northwestern Highway, 1000 Maccabees Center, Sullivan, Ward, Asher & Patton, P.C., MI 48075-1000
    248.746.0700 248.746.0700 ·
  4. VanOverbeke Michaud & Timmony, P.C.
    79 Alfred Street, VanOverbeke Michaud & Timmony, P.C., MI 48201
    313.578.1200 313.578.1200 ·
No Document Title Filing Date