Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) Investor Lawsuit Filed Against 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, Inc.

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Company Name(s): 
Ultragenyx Pharmaceutical
Case Name: 
Ultragenyx Pharmaceutical Derivative Shareholder Case
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: RARE
Lawsuit Overview
Type of Lawsuit: 
Shareholder Derivative Action
Summary: 

An investor in shares of Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) filed a lawsuit against directors of Ultragenyx Pharmaceutical Inc over alleged excessive pay of certain directors.

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.