NEW YORK, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against MEI Pharma, Inc. (“MEI Pharma” or the “Company”) (NASDAQ: MEIP) in the United States District Court for the Southern District of California on behalf of those who purchased or acquired the securities of MEI Pharma between August 2, 2017 and July 1, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for MEI Pharma investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) MEI Pharma overstated Pracinostat’s potential efficacy as an acute myeloid leukemia (“AML”), treatment for the target population; (2) consequently, the Phase 3 Pracinostat Trial was unlikely to meet its primary endpoint of overall survival; (3) all the foregoing, once revealed, was foreseeably likely to have a material negative impact on the Company’s financial condition and prospects for Pracinostat; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of MEI Pharma during the Class Period should contact the Firm prior to the October 9, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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