Infinity Pharmaceuticals, Inc. (NASDAQ: INFI)
Lead Plaintiff Deadline is October 16, 2023
NEW YORK, NY – August 25, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a class action lawsuit has been filed against Infinity Pharmaceuticals, Inc. (“Infinity” or the “Company”) (NASDAQ: INFI) in the United States District Court for the District of Massachusetts on behalf of all persons and entities who purchased or otherwise acquired Infinity
securities between January 5, 2022 and July 24, 2023, both dates inclusive (the “Class Period”).
All investors who purchased shares and incurred losses are advised to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774.
If you have incurred losses, you may, no later than October 16, 2023, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
For over a year, Defendants pushed the false narrative that Infinity’s flagship product, eganelisib, was proceeding apace in its clinical studies as a treatment for breast cancer. Specifically, Infinity touted two clinical studies:
- MARIO-4, a randomized, double-blind Phase 3 study; and
- MARIO-P, a platform study to evaluate additional combinations and indications where eganelisib might increase the effectiveness of available therapies.
According to the filed Complaint, the Company made false and misleading statements to the market. Infinity boasted that its flagship product, eganelisib, was showing promising results resulting in interest from prospective partners. The Company announced on February 23, 2023, that it had entered into a merger agreement with MEI Pharma, Inc. Then, on July 24, 2023, the Company announced it was terminating the merger and the next day announced a “Value Preservation and Maximization Plan” that would eliminate 78% of its workforce.
Based on these facts, the Company’s public statements were false and materially misleading throughout the class period.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at firstname.lastname@example.org.
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 09/27/2023