Los Angeles - 
(NewMediaWire) - June 08, 2021 - The Schall Law Firm announced
today that they have filed
a securities class action lawsuit on behalf of plaintiff Thomas Leonard against FibroGen,
Inc. (“FibroGen” or the “Company”) (NASDAQ: FGEN) and certain of its
officers, which expands the class period. The class action is on behalf of a
class consisting of investors who purchased or otherwise acquired FibroGen
securities between October 18, 2017 and April 6, 2021, inclusive (the “Class
Period”). Plaintiff seeks to recover compensable damages caused by Defendants'
violations of the federal securities laws and to pursue remedies under Sections
10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5
promulgated thereunder.
Investors who purchased the Company's securities during the Class Period are
encouraged to contact the firm before June 11, 2021. If you are a shareholder
who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049
Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to
discuss your rights free of charge. You can also reach us through the firm's
website at www.schallfirm.com, or by
email at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until certification
occurs, you are not represented by an attorney. If you choose to take no
action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements
to the market. First, the safety data underlying FibroGen’s Phase 3 trials of
roxadustat in China demonstrated that any data obtained from its global Phase 3
program would not meet the FDA’s requirements without post-hoc changes to the
stratification factors, but the Company proceeded with its global Phase 3
program anyway. The Company’s subsequent disclosures of U.S. primary
cardiovascular safety analyses from its global Phase 3 program included
post-hoc changes to the stratification factors. The Company's analyses with the
original stratification factors resulted in higher hazard ratios (point
estimates of relative risk) and 95% confidence intervals. The Company could not
demonstrate that roxadustat reduces the risk of or is a better treatment than
MACE+ in dialysis, and MACE and MACE+ in incident dialysis compared to
epoetin-alfa. The Company faced uncertainty over the approval of its NDA for
Roxadustat by the FDA. Based on these facts, the Company's public statements were
false and materially misleading throughout the class period. When the market
learned the truth about FibroGen, investors suffered damages.
Join the case
to recover your losses.
The Schall Law Firm represents investors around the world and specializes in
securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
SOURCE: The Schall Law Firm
