Oramed Investor Suit Seeks To Claw Back Stock Awards

Law360 (March 24, 2021, 9:56 PM EDT) -- An Oramed Pharmaceuticals stockholder filed a proposed class action Wednesday in Delaware's Chancery Court seeking to recover more than 1.3 million shares she claims the company's board of directors improperly awarded its members and others after incorrectly reporting the results of stockholder votes on an employee stock incentive plan.

Plaintiff Renee De Felice brought direct and derivative claims on behalf of herself, similarly situated stockholders and Oramed Pharmaceuticals Inc. against the New York-based company's directors and executives, alleging they violated company bylaws in how they tabulated the stockholder votes and that the shares they subsequently awarded under the plans are invalid....

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