NEW ORLEANS, June 16, 2023 (GLOBE NEWSWIRE) -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF continues its investigation into FibroGen, Inc. (NasdaqGS: FGEN).
On July 15, 2021, the U.S. Food and Drug Administration’s Advisory Committee unequivocally concluded that the Company’s own undisclosed, prespecified sensitivity analyses demonstrated that the efficacy of its flagship experimental drug, Roxadustat, over competitor Epogen was inconclusive at best, that it caused “greater rates of some important adverse events…than even [Epogen],” including a higher rate of death and other major side effects, and that the Committee had voted virtually unanimously against approval for Roxadustat for any patient population, even with a “Black Box” warning.
The Company was subsequently sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws. The court presiding over that case denied the Company’s motion to dismiss in part. Recently, the Lead Plaintiffs in the case moved for certification of the class as the case continues to move forward.
KSF’s investigation is focusing on whether FibroGen’s officers and/or directors breached their fiduciary duties to the Company’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of FibroGen shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-fgen/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
