A lawsuit was filed by an investor in Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) shares over alleged wrongdoing at Ultragenyx Pharmaceutical Inc.
San Diego, CA -- (SBWIRE) -- 12/10/2018 -- An investor in shares of Ultragenyx Pharmaceutical Inc. filed a lawsuit against directors of Ultragenyx Pharmaceutical Inc over alleged excessive pay of certain directors.
Investors who purchased shares of Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) and currently hold any of those NASDAQ: RARE shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges alleging that the board has breached its fiduciary duty and engaged in self-dealing, unjust enrichment and waste in approving a compensation plan that "grossly overcompensates" the seven nonemployee directors. The plaintiff claims that the company's board is being paid "excessive" salaries and that the compensation plan fails to take in account Ultragenyx Pharmaceutical's revenue and continues to pay the directors more than twice what peers at similarly sized, publicly traded companies are paid
Ultragenyx Pharmaceutical Inc., a biopharmaceutical company, focuses on the identification, acquisition, development, and commercialization of various products for the treatment of rare and ultra-rare genetic diseases in the United States. Ultragenyx Pharmaceutical Inc. reported that its Net Loss increased from $245.87 million in 2016 to $302.13 million in 2017. Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) declined from $90.98 per share in September 2018 to as low as $46.40 per share on October 29, 2018.
The total compensation of the CEO rose from over $5.4 million in 2015 to over $6.68 million in 2017.
Those who purchased shares of Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
For more information on this press release visit:
Media Relations Contact
Email: Click to Email Michael Daniels