Infinity Pharmaceuticals Class Action Update: Johnson Fistel Alerts Shareholders of Ongoing Legal Proceedings
Johnson Fistel, LLP, a law firm specializing in shareholder rights, has announced the initiation of class action lawsuits on behalf of investors of the following companies. Investors are encouraged to review the deadlines listed and submit their information.
Class Period: January 5, 2022 and July 24, 2023
Lead Plaintiff Deadline: October 16, 2023
Infinity Pharmaceuticals, Inc.
The Complaint alleges that Defendants made materially false and misleading statements. On February 23, 2023, before the stock market opened, Infinity announced via a webcast(the “Webcast”) that it had entered into a merger agreement with MEI Pharma, Inc. (“MEI”) The proposed transaction was all stock, pursuant to which Infinity shareholders will receive shares of MEI common stock. During the Webcast, Defendant Perkins stated Infinity would “prioritize head and neck cancer.” No mention at all was made of breast cancer treatments. It was as if MARIO-4 and MARIO-P never existed, and TNBC was never a priority for eganelisib treatment. This pivot did not go unnoticed by the stock market, and the value of Infinity stock plummeted. Infinity stock had closed at $0.55 on February 22, 2023. On July 24, 2023, Infinity announced that it was terminating the merger, because MEI did not obtain stockholder approval for the merger. On July 24, 2023, Infinity announced that it was terminating the merger, because MEI did not obtain stockholder approval for the merger. When the true details entered the market, the lawsuit claims that investors suffered damages.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com