San Diego, CA -- (SBWIRE) -- 06/24/2022 -- An investigation was announced for current long-term investors in shares of FibroGen, Inc. (NASDAQ: FGEN) over potential breaches of fiduciary duties by certain directors at FibroGen, Inc.

Investors who purchased shares of FibroGen, Inc. (NASDAQ: FGEN) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain FibroGen, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

An investor in shares of FibroGen, Inc. (NASDAQ: FGEN) already filed a lawsuit against certain directors of FibroGen, Inc. The plaintiff alleges that certain directors and officers of Fibrogen breached their fiduciary duties in connection with Fibrogen's anemia drug Roxadustat.

The lawsuit against certain directors comes after another investor filed a lawsuit against Fibrogen over alleged securities laws violations.

According to that complaint the plaintiff alleged that the Defendants failed to disclose to investors that the Company's prior disclosures of U.S. primary cardiovascular safety analyses from the roxadustat Phase 3 program for the treatment of anemia of CKD included post-hoc changes to the stratification factors, that FibroGen's analyses with the pre-specified stratification factors result in higher hazard ratios (point estimates of relative risk) and 95% confidence intervals, that, based on these analyses, the Company could not conclude that roxadustat reduces the risk of (or is superior to) MACE+ in dialysis, and MACE and MACE+ in incident dialysis compared to epoetin-alfa, that, as a result, the Company faced significant uncertainty that its NDA for roxadustat as a treatment for anemia of CKD would be approved by the FDA, and that, as a result of the foregoing, Defendants' statements about the Company's business, operations and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of FibroGen, Inc. (NASDAQ: FGEN) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.