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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.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
May 13, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of Orexigen Therapeutics, Inc. (NASDAQ:OREX) was announced concerning whether certain Orexigen Therapeutics officers and directors possibly breached their fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain Orexigen Therapeutics 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.
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.
Shares of Orexigen Therapeutics, Inc. grew from $1.28 per share in Sept. 2011 to $7.06 per share in July 2013.
On May 13, 2013, NASDAQ:OREX shares closed at $6.21 per share.
