Kaplan Fox Appointed Lead Counsel in Securities Class Action Against Arena Pharmaceuticals, Inc.

August 9, 2011

 

 

By Order dated August 8, 2011 Judge Barry Ted Moskowitz of the United States District Court for the Southern District of California approved of the appointment of Kaplan Fox & Kilsheimer LLP to serve as lead counsel in this securities class action. The action was brought on behalf of purchasers of securities of Arena Pharmaceuticals, Inc. (“Arena” or the “Company”) during the period of December 8, 2008 through September 17, 2010 who allege that Arena and certain of its executives violated the federal securities laws by making misrepresentations and failing to disclose material information regarding the safety and efficacy of Arena’s new weight-loss drug, Lorcaserin.

 

In its Order the Court noted that “[lead plaintiff’s] retained counsel, Kaplan Fox & Kilsheimer LLP, is clearly qualified and competent.”

 

Kaplan Fox attorneys Robert N. Kaplan, Frederic S. Fox, Laurence D. King, Joel B. Strauss and Jeffrey Campisi are working on this matter.