Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Fibrogen Inc.

New York, New York – (Newsfile Corp. – June 8, 2021) – Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file lead plaintiffs in a pending securities class action on behalf of investors seeking the Purchased or acquired securities of Fibrogen, Inc. (“Fibrogen” or the “Company”) (NASDAQ: FGEN) from November 8, 2019 to April 6, 2021 (the “Class Period”). The lawsuit filed in the U.S. District Court for the Northern District of California alleges violations of the Securities Exchange Act of 1934.

If you have purchased Fibrogen securities and / or would like to discuss your legal rights and options, please visit Fibrogen’s Class Action Action or contact Joseph R. Seidman, Jr. toll free at (877) 779-1414 or Seidman @ bernlieb.com

The lawsuit alleges that defendants made materially false and / or misleading statements during the class action period and that investors failed to: (i) The company’s previous disclosures on U.S. primary cardiovascular safety research from Roxadustat Phase-3 -Program for the treatment of anemia in CKD included post-hoc changes in stratification factors; (ii) FibroGen’s analyzes with the pre-determined stratification factors lead to higher hazard ratios (point estimates of the relative risk) and 95% confidence intervals; (iii) based on these analyzes, the Company has not been able to conclude that Roxadustat reduces (or is superior to) the risk of MACE + on dialysis and MACE and MACE + on incident dialysis compared to epoetin alfa; (iv) as a result, the Company faced significant uncertainty as to whether its NDA for roxadustat for the treatment of anemia in CKD would be approved by the FDA; and (v) that, based on the foregoing, Defendants’ statements about the business, operations, and prospects of the Company were materially misleading and / or improperly based.

The story goes on

On April 6, 2021, after the market closed, FibroGen published a press release with additional information on Roxadustat, stating that the “primary cardiovascular safety analyzes included post-hoc changes in stratification factors”.

As a result of this news, the company’s share price fell $ 14.90, or 43%, to close at $ 19.74 per share on April 7, 2021 due to the high volume. Shares continued to fall on April 8, 2021, closing at $ 18.81 per share (down $ 0.93 per share, or 4.7%), on a high volume.

If you want to serve as the lead plaintiff, you must call the court no later than June 11, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in the conduct of the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you do nothing, you can remain an absent class member.

If you have purchased Fibrogen securities and / or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/fibrogeninc-fgen-shareholder-class-action-lawsuit-stock-fraud-390 / apply / or contact Joseph R. Seidman, Jr. toll free at (877) 779-1414 or [email protected]

Since 1993, Bernstein Liebhard LLP has recovered over $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. As a result of its success in hundreds of lawsuits and class actions, the firm has been included on the National Law Journal’s “Plaintiffs’ Hot List” thirteen times and on The Legal 500 for ten consecutive years.

ADVERTISING LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this complaint in the Connecticut state is Michael S. Bigin. Past results do not guarantee or predict a similar result with respect to future matters.

Contact information

Joseph R. Seidman Jr.
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80508