NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 11, 2021 to file lead plaintiff applications in a securities class action lawsuit against FibroGen, Inc. (NasdaqGS: FGEN), if they purchased the Company’s securities and/or sold put options between November 8, 2019 and April 6, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities and/or sold put options of FibroGen and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-fgen/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 11, 2021.
About the Lawsuit
FibroGen and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 6, 2021, post-market, the Company disclosed that cardiovascular safety data it had previously submitted for the Phase 3 program of its roxadustat product “included post-hoc changes to the stratification factors.” As a result of these changes, the complaint alleges, the Company was forced to concede that roxadustat did not reduce the risk of cardiovascular events or hospitalization as compared to a currently approved anemia injection used as a control based on pre-specified stratification factors, contrary to prior representations.
On this news, shares of FibroGen plummeted $14.90, or 43%, to close at $19.74 per share on April 7, 2021, on heavy volume.
The case is Xu v. Fibrogen, Inc., et al., No. 21-cv- 2623.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.