Arrowhead Research Corp (NASDAQ:ARWR) Investor Investigation Over Possible Breaches Of Fiduciary Duties Announced

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Company Name(s): 
Arrowhead Research
Affected Securities: 
NASDAQ: ARWR

Feb. 11, 2013 (Shareholders Foundation) -- An investigation on behalf of current long-term stockholders of shares of Arrowhead Research Corp (NASDAQ:ARWR) was announced concerning whether certain Arrowhead Research officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain Arrowhead Research Corp officers and directors breached their fiduciary duties in connection with the proposed vote scheduled for March 21, 2013 to approve the proposed amendment to the Arrowhead Research Corp (NASDAQ:ARWR) 2004 Equity Incentive Plan to increase the number of shares of common stock reserved for issuance under the 2004 Equity Incentive Plan from 2,000,000 shares to 3,000,000 shares.

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of NASDAQ:ARWR common stock.

Arrowhead Research Corp (NASDAQ:ARWR) reported that its Net Loss increased from $3.13 million for the 12 months period that ended on Sept. 30, 2011 to $21.13 million for the 12 months period that ended on Sept. 30, 2012.

Since its 1:10 split on Nov. 17, 2011 shares of Arrowhead Research Corp (NASDAQ:ARWR) declined from as high as $6.61 per share in April 2012 to as low as $1.91 per share on February 1, 2013.

The compensation of certain top officials at Arrowhead Research Corp (NASDAQ:ARWR) increased from 2011 to 2012. For instance, the President and CEO’s total compensation rose from $425,000 in 2011 to over $1.48 million in 2012 and the CFO’s total pay increased from over $241,000 in 2011 to over $747,000 in 2012.

On Feb. 11, 2013, NASDAQ:ARWR closed at $1.87 per share, which is significantly below its adjusted 52 week High.