Kessler Topaz Meltzer & Check, LLP Alerts Shareholders of Securities Class Action Lawsuit Against FibroGen, Inc. – FGEN

RADNOR, PA / ACCESSWIRE / May 18, 2021 / Law firm Kessler Topaz Meltzer & Check, LLP reminds investors of FibroGen, Inc. (NASDAQ: FGEN) (“FibroGen”) that a class action lawsuit for securities fraud has been filed or sold on behalf of those who have bought and purchased FibroGen securities Put Options from October 18, 2017 through April 6, 2021 (the “Class Period”).

Lead plaintiff deadline: June 11, 2021

Website: https://www.ktmc.com/fibrogen-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=fibrogen

Contact: James Maro, Esq. (484) 270-1453

Adrienne Bell, Esq. (484) 270-1435

Toll Free (844) 887-9500

FibroGen is a biopharmaceutical company developing drugs to treat anemia, fibrotic diseases, and cancer. Its most advanced product is Roxadustat (“Roxa”), an oral small molecule inhibitor of hypoxia-inducible factor prolylhydroxylase activity, which stimulates the body’s natural pathway to produce red blood cells.

The complaint alleges that throughout the class period, the defendants made or failed to disclose false and / or misleading statements: (1) Based on safety data from FibroGen’s two Phase 3 trials in China, all safety data from the global phase 3 studies would require post hoc changes in stratification factors to meet US Food and Drug Administration (“FDA”) requirements. (2) FibroGen’s US Primary Cardiovascular Safety Assessments from Roxa’s Global Phase 3 Program for the Treatment of Anemia Associated with Chronic Kidney Disease (“CKD”) included post-hoc changes in stratification factors. (3) FibroGens analyzes with the specified stratification factors led to higher hazard rates (point estimates of the relative risk) and 95% confidence intervals; (4) Based on these analyzes, FibroGen was unable to conclude that Roxa reduced (or was superior to) the risk of MACE + on dialysis and MACE and MACE + on dialysis compared to epoetin-alfa. (5) As a result, FibroGen faced significant uncertainty that its NDA for Roxa for the treatment of CKD anemia would be approved by the FDA. and (6) as a result of the foregoing, Defendants’ statements about FirboGen’s business, business and prospects were materially false and misleading and / or had no reasonable basis at all relevant times.

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FibroGen investors can attempt to be appointed as the class lead plaintiff no later than June 11, 2021 by Kessler Topaz Meltzer & Check, LLP, or other attorney, or they can choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.

Kessler Topaz Meltzer & Check, LLP, pursues class action lawsuits in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP, is a driving force behind corporate governance reform and has reclaimed billions of dollars on behalf of institutional and individual investors from the US and around the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)
[email protected]

SOURCE: Kessler Topaz Meltzer & Check, LLP

View source version on accesswire.com:
https://www.accesswire.com/648069/INVESTOR-REMINDER-Kessler-Topaz-Meltzer-Check-LLP-Alerts-Shareholder-of-Securities-Class-Action-Lawsuit-Against-FibroGen-Inc-FGEN

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