id: 892, Created by Polina Foster, Scout
FibroGen (FGEN) $28.5M Shareholder Settlement
How it works?
- Company agreed to settle with investors to avoid further litigation
- We prepare documents and claim payout for you
20 Dec 2018Class period Start
15 Jul 2021Class period End
FibroGen (FGEN) agreed to settle $28 million with investors to end claims over hiding information about its anemia treatment candidate Roxadustat.
- FibroGen was accused of hiding information about Roxadustat, a candidate for the treatment of anemia.
- FibroGen supposedly misled about safety analyses, causing $FGEN drops when the truth came out.
- FibroGen agreed to pay $28.5M to investors to resolve the claims.
FibroGen and its leaders were accused of not revealing important details about the Roxadustat Phase 3 program.
They supposedly provided false information about the drug's safety.
Moreover, FibroGen's analyses suggested higher risks and doubts about Roxadustat's FDA approval emerged.
On this news, $FGEN dropped when the truth came out.
FibroGen has now decided to resolve all the allegations and pay a $28.5M settlement.
12 April 2021
Bernstein Litowitz Berger & Grossmann LLP, Saxena White PA (Boca Raton, FL)
Enrique Conterno, James Schoeneck, K. Peony Yu
Edward M Chen
Class wide damages
Trades matching type
+$28,500,000Total Settlement Amount