NEW YORK--(BUSINESS WIRE)--Kirby McInerney LLP is investigating potential claims against the Board of Directors of Orexigen Therapeutics, Inc. (“Orexigen” or the “Company”) (NASDAQ:OREX) concerning statements the Company made regarding its obesity drug Contrave.
After the close of trading on March 5, 2015, Forbes issued a report quoting an FDA official charged with overseeing the Contrave post-market clinical trial program. The FDA official stated that the data from the interim study report was probably “unreliable,” “misleading,” and “likely false.” The Forbes report warned that if “Orexigen cannot find a way to set things right, it could face fines, civil penalties, or even the withdrawal of Contrave from the market.”
On this news, shares of Orexigen fell more than 11%, from a closing price of $8.01 on March 5, 2015, to $7.10 per share on March 6, 2015.
If you are an Orexigen stockholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at bwalker@kmllp.com, or telephone at (212) 699-1145, Melissa Fortunato, Esq. by email at mfortunato@kmllp.com, or telephone at (212) 699-1141, or toll free at (888) 529-4787, or by filling out this contact form. There is no cost or obligation to you.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.
