FGEN.US
id: 892
FibroGen (FGEN) $28.5M Shareholder Settlement
N.D. California
Court3:21-cv-2623
Case number12/20/2018
Class period Start07/15/2021
Class period End06/12/2024
Claim deadlineFibroGen (FGEN) agreed to settle $28 million with investors to end claims over hiding information about its anemia treatment candidate Roxadustat.
Case Details:
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.
Case Status
Disbursement
Alleged Offence
Mismanagement,
Misleading Statements,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Filing date
04/12/2021
Plaintiffs
Peifa Xu
Attorneys
Bernstein Litowitz Berger & Grossmann LLP, Saxena White PA (Boca Raton, FL)
Defendants
Enrique Conterno, James Schoeneck, K. Peony Yu
Judge
Edward M Chen
Class wide damages
$603,100,000
Trades matching type
FIFO
Disbursement date
01/15/2025
+$28,500,000
Cash Settlement AmountFrequently Asked Questions
Who is eligible for this settlement?
Do I have to sell securities to be eligible?
How long does the payout process take?
What is 11thestate?