May 21, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) was announced concerning whether certain Ligand Pharmaceuticals officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Ligand Pharmaceuticals officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls.

Ligand Pharmaceuticals Inc. reported that its annual Total Revenue rose from $30.04 million in 2011 to $31.39 million in 2012. However, its Net Income of $9.71 million in 2011 declined to a Net Loss of $0.53 million in 2012.

The total compensation of certain top officials at Ligand Pharmaceuticals Inc. increased between 2011 and 2012. For instance, the President and CEOs total compensation rose from over $1.63 million in 2011 to over $2.67 million in 2012 and the CFOs total pay increased from over $596,000 in 2011 to over $782,000 in 2012.

Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) grew from $8.67 per share in early 2011 to as high as $28.46 per share on May 20, 2013.

On May 21, 2013, NASDAQ:LGND shares closed at $27.74 per share.