SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Orexigen Therapeutics, Inc. - OREX
NEW YORK, March 6, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Orexigen Therapeutics, Inc. ("Orexigen" or the "Company") (NASDAQ: OREX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Orexigen and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 5, 2015, a report on Forbes.com said that an FDA official noted that interim study results are highly 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.
On this news, shares of Orexigen fell $1.18 per share to $6.83, or more than 14%, on March 6, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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