Shareholders Foundation, Inc.

Orexigen Therapeutics, Inc. (NASDAQ:OREX) Investor Alert: Lawsuit Against Directors Filed

A lawsuit was filed by a current investor in NASDAQ:OREX shares against certain directors of Orexigen Therapeutics and current long-term NASDAQ:OREX stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
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San Diego, CA -- (SBWIRE) -- 12/16/2013 -- 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.

Investors who are current long-term stockholder of shares of Orexigen Therapeutics, Inc. (NASDAQ:OREX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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.

Those who purchased shares of Orexigen Therapeutics, Inc. have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com