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Orexigen Therapeutics, Inc. (NASDAQ:OREX) Investor Files Lawsuit Against Certain Directors

  • If you are a current long-term stockholder of shares of Orexigen Therapeutics, Inc. (NASDAQ:OREX), you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Orexigen Therapeutics, Inc.
Security
NASDAQ: OREX

Case Name
Orexigen Therapeutics Shareholder Derivative Lawsuit 12/13/2013
Type of Lawsuit
Stockholder Derivative Action
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Summary

December 13, 2013 (Shareholders Foundation) - An investor who currently holds NASDAQ:OREX shares, filed a lawsuit against directors of Orexigen Therapeutics, Inc. (NASDAQ:OREX) over alleged breaches of fiduciary duties.
According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties by awarding themselves in excess of the 1.5million annual stock options allowed.

Orexigen Therapeutics, Inc. reported that its annual Total Revenue declined from $4.40 million in 2011 to $3.43 million in 2012 and that its respective Net Loss increased from $28.06 million to $90.09 million.

On December 13, 2013, NASDAQ:OREX shares closed at $5.58 per share.