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WILKIN EX REL. OREXIGEN THERAPEUTICS INC. v. NARACHI

C.A. No. 12412-VCMR.

BEN WILKIN, derivatively on behalf of OREXIGEN THERAPEUTICS, INC., Plaintiff, v. MICHAEL A. NARACHI, PRESTON S. KLASSEN, JOSEPH P. HAGAN, MARK D. BOOTH, HEATHER D. TURNER, ECKARD WEBER, BRIAN H. DOVEY, LOUIS C. BOCK, PATRICK J. MAHAFFY, PETER K. HONIG, LOTA S. ZOTH, DAVID J. ENDICOTT, AND WENDY L. DIXON, Defendants, and OREXIGEN THERAPEUTICS, INC., a Delaware corporation, Nominal Defendant.

Court of Chancery of Delaware.

Decided: February 28, 2018.

Attorney(s) appearing for the Case

Blake A. Bennett , COOCH AND TAYLOR, P.A., Wilmington, Delaware; Brian J. Robbins , George C. Aguilar , and Jay N. Razzouk , ROBBINS ARROYO LLP, San Diego, California; Nicholas Koluncich III , THE LAW OFFICES OF NICHOLAS KOLUNCICH III, LLC, Albuquerque, New Mexico; Attorneys for Plaintiff.

William N. Lafferty , D. McKinley Measley , and Richard Li , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; John C. Dwyer and Jessica Valenzuela Santamaria , COOLEY LLP, Palo Alto, California; Mary Kathryn Kelley , COOLEY LLP, San Diego, California; Jeffrey Lombard , COOLEY LLP, Seattle, Washington; Attorneys for Defendants.

MEMORANDUM OPINION

Pending before the Court is a motion to dismiss for failure to plead demand futility and failure to state a claim in a case involving a pharmaceutical company that was developing a drug to help in the battle against obesity. Early results of a clinical trial indicated that this drug...

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