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CLASS ACTION UPDATE for MPLN, KRMD and FGEN: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / April 13, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

MPLN Shareholders Click Here: https://www.zlk.com/pslra-1/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-information-form?prid=14655&wire=1
KRMD Shareholders Click Here: https://www.zlk.com/pslra-1/repro-med-systems-inc-loss-submission-form?prid=14655&wire=1
FGEN Shareholders Click Here: https://www.zlk.com/pslra-1/fibrogen-inc-information-request-form?prid=14655&wire=1

* ADDITIONAL INFORMATION BELOW *

Multiplan Corporation F/K/A Churchill Capital Corp. Iii (NYSE:MPLN)

MPLN Lawsuit on behalf of: investors who purchased July 12, 2020 - November 10, 2020
Lead Plaintiff Deadline : June 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-information-form?prid=14655&wire=1

According to the filed complaint, during the class period, Multiplan Corporation F/K/A Churchill Capital Corp. Iii made materially false and/or misleading statements and/or failed to disclose that: (a) MultiPlan was losing tens of millions of dollars in sales and revenues to Naviguard, a competitor created by one of MultiPlan's largest customers, UnitedHealthcare, which threatened up to 35% of the Company's sales and 80% of its levered cash flows by 2022; (b) sales and revenue declines in the quarters leading up to the Merger were not due to "idiosyncratic" customer behaviors as represented, but rather due to a fundamental deterioration in demand for MultiPlan's services and increased competition, as payors developed competing services and sought alternatives to eliminating excessive healthcare costs; (c) MultiPlan was facing significant pricing pressures for its services and had been forced to materially reduce its take rate in the lead up to the Merger by insurers, who had expressed dissatisfaction with the price and quality of MultiPlan's services and balanced billing practices, causing the Company's to cut its take rate by up to half in some cases; (d) as a result of (a)-(c) above, MultiPlan was set to continue to suffer from revenues and earnings declines, increased competition and deteriorating pricing dynamics following the Merger; (e) as a result of (a)-(d) above, MultiPlan was forced to seek continued revenue growth and to improve its competitive positioning through pricey acquisitions, including through the purchase of HST for $140 million at a premium price from a former MultiPlan executive only one month after the Merger; and (f) as a result of (a)-(e) above, Churchill III investors had grossly overpaid for the acquisition of MultiPlan in the Merger, and MultiPlan's business was worth far less than represented to investors.

Repro Med Systems, Inc. (NASDAQ:KRMD)

KRMD Lawsuit on behalf of: investors who purchased August 4, 2020 - January 25, 2021
Lead Plaintiff Deadline : May 25, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/repro-med-systems-inc-loss-submission-form?prid=14655&wire=1

According to the filed complaint, during the class period, Repro Med Systems, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) starting in January 2020, Repro Med Systems ramped up the use of allowances, including growth rebates, to retain key customers and to incentivize growth; (2) as the rebates accrued, the Company's net sales were reasonably likely to decline; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

FibroGen, Inc. (NASDAQ:FGEN)

FGEN Lawsuit on behalf of: investors who purchased November 8, 2019 - April 6, 2021
Lead Plaintiff Deadline : June 11, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/fibrogen-inc-information-request-form?prid=14655&wire=1

According to the filed complaint, during the class period, FibroGen, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's prior disclosures of U.S. primary cardiovascular safety analyses from the roxadustat Phase 3 program for the treatment of anemia certain safety analyses submitted in connection with CKD included post-hoc changes to the stratification factors; (ii) FibroGen's analyses with the pre-specified stratification factors result in higher hazard ratios (point estimates of relative risk) and 95% confidence intervals; (iii) 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; (iv) 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 (v) 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.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/640231/CLASS-ACTION-UPDATE-for-MPLN-KRMD-and-FGEN-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders

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