LOS ANGELES, CA / ACCESSWIRE / October 11, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Infinity Pharmaceuticals, Inc. ("Infinity" or "the Company") (NASDAQ:INFI) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between January 5, 2022 and July 24, 2023, inclusive (the "Class Period"), are encouraged to contact the firm before October 16, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the 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. When the market learned the truth about Infinity, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm