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FGEN.US
id: 892

FibroGen (FGEN) $28.5M Shareholder Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
N.D. California
Court
3:21-cv-2623
Case number
20 Dec 2018
Class period Start
15 Jul 2021
Class period End
12 Jun 2024
Claim deadline
FibroGen (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
Accepting Late Claims
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Filing date
12 April 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
+$28,500,000
Cash Settlement Amount

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