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BOSTON, Nov. 04, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, is investigating FibroGen, Inc. (NASDAQ: FGEN) and certain of its officers and directors for potential violations of federal securities laws.
FibroGen is a pharmaceutical company developing Roxadustat, a drug designed to stimulate production of hemoglobin and red blood cells. On November 4, 2019, a former analyst at Kerrisdale Capital Management issued a short report questioning the safety of Roxadustat, and calling the Company the next “biotech blow-up.” The short report alleged that the company was being “mysteriously unforthcoming” and misleading investors with regards to the safety and efficacy of Roxadustat. As a result of the report, FibroGen’s share price dropped more than $4.00, or about 10%, in intraday trading.
If you have purchased or otherwise acquired FibroGen securities, and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at email@example.com, or by visiting http://shareholder.law/fgen.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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