A lawsuit was filed by a current long term investor in FibroGen, Inc. (NASDAQ:FGEN) shares over alleged breaches of fiduciary duty by certain directors.
San Diego, CA -- (SBWIRE) -- 05/05/2022 -- An investor in FibroGen, Inc. (NASDAQ: FGEN) shares filed a lawsuit against certain directors of FibroGen, Inc over alleged breaches of fiduciary duties.
Investors who are current long term investors in FibroGen, Inc. (NASDAQ: FGEN) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that certain directors and officers of Fibrogen breached their fiduciary duties in connection with Fibrogen's anemia drug Roxadustat.
The lawsuit against certain directors comes after another investor filed a lawsuit against Fibrogen over alleged securities laws violations.
According to that complaint the plaintiff alleged that the Defendants failed to disclose to investors that the Company's prior disclosures of U.S. primary cardiovascular safety analyses from the roxadustat Phase 3 program for the treatment of anemia of CKD included post-hoc changes to the stratification factors, that FibroGen's analyses with the pre-specified stratification factors result in higher hazard ratios (point estimates of relative risk) and 95% confidence intervals, that, 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, that, 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 that, 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.
Those who purchased shares of FibroGen, Inc. (NASDAQ: FGEN) have certain options and should contact the Shareholders Foundation.
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