SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

March 16, 2015 09:54 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of OREXIGEN THERAPEUTICS, INC. of PENDENCY OF CLASS ACTION Lawsuit and a Lead Plaintiff DEADLINE of May 11, 2015 -- OREX

NEW YORK, NY--(Marketwired - Mar 16, 2015) - The following statement is being issued by Levi & Korsinsky, LLP:

TO: ALL PERSONS OR ENTITIES WHO PURCHASED OREXIGEN THERAPEUTICS, INC. STOCK (NASDAQ: OREX) BETWEEN MARCH 3, 2015 AND MARCH 5, 2015

YOU ARE HEREBY NOTIFIED that a class action has been commenced in the USDC for the Southern District of California. If you purchased Orexigen Therapeutics, Inc. ("Orexigen") securities between March 3, 2015 and March 5, 2015, YOUR RIGHTS MAY BE AFFECTED BY THIS ACTION. To get more information, GO TO:

HTTP://ZLK.9NL.COM/OREXIGEN-OREX

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that as part of the FDA's post-marketing approval process for its drug Contrave, Orexigen was required to conduct a "new … study to evaluate the effects of long-term treatment with Contrave on the incidence of [major adverse cardiac events] in overweight and obese subjects with [cardiovascular] disease or multiple [cardiovascular] risk factors." The complaint alleges that on March 3, 2015, Orexigen disclosed detailed interim results of its ongoing study despite the fact that the Company had been previously admonished by the FDA for inappropriately releasing interim study data. On March 5, 2015, a report published by Forbes quoted a purported FDA official as saying the interim data from the study was probably "unreliable" and "misleading" and suggesting that Orexigen could "face fines, civil penalties, or even the withdrawal of Contrave from the market."

If you suffered a loss in Orexigen you have until May 11, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (866) 367-6510
    www.zlk.com