NEW YORK, NY / ACCESSWIRE / June 4, 2021 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can 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. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
FibroGen, Inc. (NASDAQ:FGEN)
Class Period: November 8, 2019 - April 6, 2021
Deadline: June 11, 2021
For more info: www.bgandg.com/fgen.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose that: (1) that 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; (2) that FibroGen's analyses with the pre-specified stratification factors result in higher hazard ratios (point estimates of relative risk) and 95% confidence intervals; (3) 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; (4) 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 (5) 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.
Canaan Inc. (NASDAQ:CAN)
Class Period: February 10, 2021 and April 9, 2021
Deadline: June 14, 2021
For more info: www.bgandg.com/can.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose that: (1) Canaan had experienced significant ongoing supply chain disruptions during the 4Q20; (2) the introduction of Canaan's next-generation A12 series bitcoin mining machines had cannibalized sales of the older product offerings during the 4Q20; (3) as a result of the foregoing, Canaan's 4Q20 sales and sales revenues had declined dramatically; and (4) as a result of the foregoing Canaan was not on track to achieve the strong financial prospects it had led the market to believe.
Romeo Power, Inc. (NYSE:RMO)
Class Period: October 2, 2020 - March 30, 2021
Deadline: June 15, 2021
For more info: www.bgandg.com/rmo.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose that: (1) it was suffering from an acute shortage of high-quality battery cells, which are key raw materials for Romeo's battery packs and modules, due to supply constraints. Contrary to Defendants' representations, (2) Romeo had only two battery cell suppliers, not four, (3) the future potential risks that Defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo's business, operations and prospects, (4) Romeo did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021, (5) Romeo's supply constraint was a material hindrance to Romeo's revenue growth, and (6) Romeo's supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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