NEW YORK, Aug. 30, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) between January 5, 2022 and July 24, 2023, both dates inclusive (the “Class Period”), of the important October 16, 2023 lead plaintiff deadline.
SO WHAT: If you purchased Infinity securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Infinity class action, go to https://rosenlegal.com/submit-
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: 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 would 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 this news, Infinity’s stock price fell $0.09, or 40%, to close at $.13 per share on July 24, 2023, thereby injuring investors further.
To join the Infinity class action, go to https://rosenlegal.com/submit-
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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