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FGEN.US
id: 892

FibroGen (FGEN) $28.5M Shareholder Settlement

$28,500,000
Cash Settlement
N.D. California
Court
3:21-cv-2623
Case number
12/20/2018
Class period Start
07/15/2021
Class period End
06/12/2024
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 Type
US Securities Class Action
Case Status
Distribution Started
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

Frequently Asked Questions

Who is eligible for this settlement?

All persons who purchased or acquired FibroGen, Inc. securities, including options, between December 20, 2018 through July 15, 2021, inclusive.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

How long does the payout process take?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

What is 11thestate?

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

  1. Prepare documents for your payout

  2. Audit the claim and make sure you get the maximum possible payout

  3. File a claim with the settlement administration

  4. Correspond with the settlement administration to resolve emerging issues

  5. Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.