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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of VRM, KDMN and FGEN

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NEW YORK, NY / ACCESSWIRE / May 20, 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.

Vroom, Inc. (NASDAQ:VRM)

Investors Affected : June 9, 2020 - March 3, 2021

A class action has commenced on behalf of certain shareholders in Vroom, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products; (2) as a result, the Company was forced to discount aged inventory to move through its retail channels or liquidated in its wholesale channels; (3) as a result, the ecommerce gross profit per unit was reasonably likely to decline; and (4) 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/vroom-inc-loss-submission-form/?id=15970&from=1

Kadmon Holdings, Inc. (NASDAQ:KDMN)

Investors Affected : October 1, 2020 - March 10, 2021

A class action has commenced on behalf of certain shareholders in Kadmon Holdings, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Belumosudil NDA was incomplete and/or deficient; (ii) the additional new data that the Company submitted in support of the Belumosudil NDA in response to an information request from the FDA materially altered the NDA submission; (iii) accordingly, the initial Belumosudil NDA submission lacked the degree of support that the Company had led investors to believe; (iv) accordingly, the FDA was likely to extend the PDUFA target action date to review the Belumosudil NDA; and (v) 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/kadmon-holdings-inc-loss-submission-form/?id=15970&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=15970&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/648366/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-VRM-KDMN-and-FGEN

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    (Bloomberg) -- JPMorgan & Chase Co. is set to earn more than $100 million on a recent trade tied to the sale of a stake in Saudi Aramco’s oil pipelines, a windfall that stands out even in the sprawling interest-rate swap market, people familiar with the matter said.The bank is poised to book gains on a hedging transaction with U.S. investment firm EIG Global Energy Partners LLC, which agreed last month to invest $12.4 billion in the pipelines, the people said. JPMorgan advised Aramco on the deal and was one of two banks that helped it arrange a loan of more than $10 billion offered to the buyers, the people said.Given the size of the financing, EIG separately entered into a so-called swap deal with JPMorgan to guard against fluctuations in interest rates. JPMorgan is in line for the nine-figure profit after markets moved in its favor, according to the people, who asked not be identified discussing sensitive information.Read more: Aramco Said to Tap Moelis to Raise Billions From Asset SalesWhile buyers in an acquisition this size normally turn to a group of lenders to manage their financing risk, JPMorgan was the sole bank on the hedging transaction, the people said. The size of the return was commensurate with the risk the bank took onto its books as counterparty on the swap, one of the people said.Fee PoolAramco wasn’t a counterparty on the swap trade, the people said. JPMorgan hasn’t yet booked the profits on the hedging transaction, and the size of the return could still change, the people said.Representatives for Aramco and JPMorgan declined to comment, while a spokesperson of EIG didn’t immediately provide comment.Bespoke hedges have long offered profits to Wall Street firms that can outstrip those from lending or advising on deals, though they can also prompt unhappy clients if gains get too large. JPMorgan’s payday highlights why global banks continue to chase big deals from Aramco, with the expectation of profiting from such ancillary work even if the Saudi energy company itself doesn’t dole out large advisory fees.Deal PushEIG is leading a consortium that’s buying a 49% interest in leasing rights over Aramco’s oil pipelines, according to an April statement. Abu Dhabi sovereign wealth fund Mubadala Investment Co. has said it’s also in talks to join the investor group.Advisers are getting ready for more deals from the state-owned energy company. Aramco is considering the sale of a stake in its vast natural gas pipeline network, Bloomberg News reported last month. It’s also reviewing its upstream business, a move that could Aramco bring in external investors to some of its oil and gas assets, people with knowledge of the matter have said.Aramco is one of JPMorgan’s biggest clients globally, with the relationship between the two stretching back decades. JPMorgan was among the roster of banks that worked on Aramco’s $29.4 billion IPO in 2019 -- still the world’s largest-ever listing. Banks on the listing shared a fee pool of just over $100 million, which was unusually small relative to the size of the IPO.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Stellantis to restructure dealers network to face industry changes

    MILAN (Reuters) -Carmaker Stellantis will completely restructure its European dealers network as it seeks to adapt to changes in the industry brought by electrification, including a boom in online sales, and achieve promised post-merger synergies. After Stellantis was formed at the start of the year by the merger of Fiat Chrysler and Peugeot maker PSA, Chief Executive Carlos Tavares has taken action on several fronts, from cost-cutting to technology partnerships. Stellantis will end all current sales and service contracts with European dealers for its 14 brands, with effect from June 2023, it said in a statement seen by Reuters on Thursday.