Goldfarb Branham LLP is investigating shareholder claims against officers and directors of Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) due to the revelation that the FDA advisory panel voted against approval of an Arena drug called Lorcaserin. Shareholders are encouraged to contact the firm at 877-583-2855 or hlindley@goldfarbbranham.com to learn about their rights.

“The Food and Drug Administration issued a document that questioned the safety and efficacy of Arena’s Lorcaserin drug,” said securities attorney Hamilton Lindley. “That FDA document revealed, among other things, that the drug was associated with malignant tumors in rats. After this news and a report that the FDA advisory panel reportedly rejected Lorcaserin due to concerns with the potential safety problems, Arena stock has dropped 87 percent.”

Goldfarb Branham LLP is investigating a derivative lawsuit against company officers and directors for allowing this to occur. Derivative lawsuits often lead to restored confidence in companies involved in financial scandal and a resulting increase in shareholder value. Concerned shareholders who still hold their shares are urged to contact attorney Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com.

Copyright Business Wire 2010