FGEN LAWSUIT FILED: Jakubowitz Law Pursues Claims on Behalf of Fibrogen, Inc. Shareholders
New York, New York--(Newsfile Corp. - April 20, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders FibroGen, Inc. (NASDAQ: FGEN).
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Affected shareholders purchased shares of FGEN between November 8, 2019 and April 6, 2021
Shareholders interested in representing the class of wronged shareholders have until June 11, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, FibroGen, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company's prior disclosures of U.S. primary cardiovascular safety analyses from the roxadustat Phase 3 program for the treatment of anemia certain safety analyses submitted in connection with CKD included post-hoc changes to the stratification factors; (ii) FibroGen's analyses with the pre-specified stratification factors result in higher hazard ratios (point estimates of relative risk) and 95% confidence intervals; (iii) based on these analyses the Company could not 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; (iv) as a result, the Company faced significant uncertainty that its NDA for roxadustat as a treatment for anemia of CKD would be approved by the FDA; and (v) as a result of the foregoing, Defendants' statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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