Investor Claims Against Obesity Drug Maker Given Last Chance To Succeed

Mealey's (November 5, 2020, 2:17 PM EST) -- SAN DIEGO — The lead plaintiff in a securities class action lawsuit against a pharmaceutical company and certain of its senior executives has failed to sufficiently plead any actionable misstatements or omissions in alleging that the defendants misrepresented the success of a clinical study for the company’s obesity treatment drug in violation of federal securities law, a federal judge in California ruled Nov. 2 in granting the defendants’ motion to dismiss for failure to state a claim for relief (Karim Khoja v. Orexigen Therapeutics Inc., et al., No. 15-540, S.D. Calif., 2020 U.S. Dist. LEXIS 204299)....