April 22, 2021 - The court preliminarily approved the settlement.

February 8, 2021 - A stipulation of settlement was filed by the parties.

October 17, 2019 - A consolidated amended complaint was filed.

January 7, 2019 - The Court of Appeals affirmed in part and reversed in part the courts dismissal.

July 26, 2016 - A notice of appeal was filed. 

May 19, 2016 - The court granted defendants' motion to dismiss.

October 5, 2015 - A motion to dismiss the amended complaint was filed.

August 20, 2015 - An amended complaint was filed.

March 10, 2015 - An investor in shares of Orexigen Therapeutics Inc (NASDAQ: OREX) filed a lawsuit in the U.S. District Court for the Southern District of California over alleged violations of Federal Securities Laws by Orexigen Therapeutics Inc in connection with certain allegedly false and misleading statements made between March 3, 2015 and March 5, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Orexigen Therapeutics Inc (NASDAQ: OREX) common shares between March 3, 2015 and March 5, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that as part of the FDA post-marketing approval process for Contrave, Orexigen Therapeutics Inc was required to conduct “a new randomized, double-blind, placebo-controlled study to evaluate the effects of long-term treatment with Contrave on the incidence of [major adverse cardiac events, or ‘MACE’] in overweight and obese subjects with [cardiovascular] disease or multiple [cardiovascular] risk factors,” referred to as the “LIGHT study.”

Orexigen Therapeutics Inc reported that its annual Total Revenue increased from$3.43 million in 2013 to $55.52 million in 2014 and that its respective Net Loss declined from $77.67 million to $37.52 million.

On March 3, 2015, in connection with reporting to investors the status of certain patent applications Orexigen Therapeutics Inc had sought for Contrave, Orexigen Therapeutics Inc disclosed certain interim results of its ongoing LIGHT study. Shares of Orexigen Therapeutics Inc (NASDAQ: OREX) grew to as high as $9.37 per share on March 3, 2015.

Then on March 5, 2015, a report was published that said that an FDA official noted that interim study results are unreliable. Dr. John Jenkins, the FDA's director of the Office of New Drugs, also said that the results must be kept confidential to avoid compromising the trial's integrity so researchers can get a clear sense of any cardiovascular risk that comes with the drug. The report added that the agency also is concerned about doctors and patients making health care decisions based on unreliable data.

Shares of Orexigen Therapeutics Inc (NASDAQ: OREX) declined to as low as $6.76 per share on March 6, 2015.