Glancy, Prongay & Murray LLP Commences Investigation on Behalf of Arena Pharmaceuticals, Inc. Investors

LOS ANGELES--(BUSINESS WIRE)-- Glancy, Prongay & Murray LLP (“GPM”) announces that it is investigating potential claims on behalf of investors of Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) (“Arena” or “the Company”) and whether the officers and directors complied with their legal obligations to the Company and its shareholders.

Arena announced on October 5, 2015, that, “at the request of the Board of Directors, Jack Lief, Arena's President and Chief Executive Officer, has retired from the company, including its Board of Directors.” The Company further disclosed that, “it is conducting an ongoing evaluation of its programs and operations, and intends to provide details regarding its 2016 financial plan later this year.” GPM’s investigation focuses on whether the Company and its directors have breached any fiduciary duties owed to shareholders, or otherwise committed corporate waste and/or permitted a lack of adequate internal controls with respect to the announcement on October 5, 2015.

If you own Arena shares, if you have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151016006064/en/

Glancy, Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

Source: Glancy, Prongay & Murray LLP

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