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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of ROOT, GOEV and FGEN

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·4 min read
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NEW YORK, NY / ACCESSWIRE / May 11, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Root, Inc (NASDAQ:ROOT)

This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Root Class A common stock pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about October 28, 2020.

A class action has commenced on behalf of certain shareholders in Root, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Root would foreseeably fail to generate positive cash flow for at least several years following the IPO; (ii) accordingly, the Company would foreseeably require significant cash infusions to meet its cash flow needs; (iii) notwithstanding the Defendants' touting of Root's purportedly unique, data-driven advantages, several of the Company's established industry peers in fact possessed significant competitive advantages over Root with respect to, inter alia, telematics data and data engagement; and (iv) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.

Shareholders may find more information at https://securitiesclasslaw.com/securities/root-inc-loss-submission-form/?id=15693&from=1

Canoo Inc. (NASDAQ:GOEV)

Investors Affected : August 18, 2020 - March 29, 2021

A class action has commenced on behalf of certain shareholders in Canoo Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's engineering services was not a viable business, would not provide meaningful revenue in 2021, and would not reduce operational risk; (ii) the Company would no longer be focused on its subscription-based business model; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/canoo-inc-loss-submission-form/?id=15693&from=1

FibroGen, Inc. (NASDAQ:FGEN)

Investors Affected : October 18, 2017 - April 6, 2021

A class action has commenced on behalf of certain shareholders in FibroGen, Inc. The filed complaint alleges that defendants 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/fibrogen-inc-loss-submission-form/?id=15693&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



View source version on accesswire.com:
https://www.accesswire.com/646518/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-ROOT-GOEV-and-FGEN