date() expects a unix timestamp… I imagine you are passing it a date as a string.
e.g. 2010-10-10
You should use:
$this->expiry_date = date("m/d/Y", strtotime($rows['expiry_date']));
Or better yet, use the DateTime object.
$expiry_date = new DateTime($rows['expiry_date']);
$this->expiry_date = $expiry_date->format('m/d/Y');