Investors with over $250,000 in losses are encouraged to contact the firm before June 11, 2021; click here to submit trade information
LOS ANGELES, June 10, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of FibroGen, Inc. (NASDAQ:FGEN) investors that acquired shares between November 8, 2019 and April 6, 2021. Investors have until June 11, 2021 to seek an active role in this litigation.
It is alleged in this complaint that FibroGen issued misleading and/or false statements and/or failed to disclose information pertinent to investors.On April 6, 2021, FibroGen issued a statement providing “clarification of certain prior disclosures of U.S. primary cardiovascular safety analyses from the roxadustat Phase 3 program for the treatment of anemia of chronic kidney disease (‘CKD’).” FibroGen stated that its safety analysis “included post-hoc changes to the stratification factors.” FibroGen also disclosed, based on analyses using the pre-specified stratification factors, that FibroGen “cannot conclude that roxadustat reduces the risk of (or is superior to) MACE+ in dialysis, and MACE and MACE+ in incident dialysis compared to epoetin-alfa.” Shares of FibroGen dropped sharply, based on this news.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 11, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar