Navigating the Legal Waters: Understanding the Infinity Pharmaceuticals Class Action Lawsuit

Contact Infinity Pharmaceuticals stock loss lawyer Timothy L. Miles about an Infinity Pharmaceuticals lawsuit

Introduction to class action lawsuits

Class action lawsuits are a legal mechanism that allows a group of individuals, collectively known as plaintiffs, to bring a case against a defendant or defendants on behalf of a larger group of people called class members who have suffered similar harm. This type of lawsuit is particularly useful when a large number of people have been affected by the actions or negligence of a company or entity. One such class action lawsuit that has garnered significant attention is the Infinity Pharmaceuticals Class Action Lawsuit.

Overview of Infinity Pharmaceuticals, Inc.

​As we previously discussed, Infinity Pharmaceuticals, Inc., commonly referred to as Infinity, is a biopharmaceutical company that focuses on the discovery and development of innovative medicines for the treatment of cancer. Founded in 2001, Infinity has been dedicated to advancing breakthrough therapies to improve the lives of patients with cancer.

Understanding the Infinity Pharmaceuticals Class Action Lawsuit

Background of the class action against Infinity Pharmaceuticals

The Infinity Pharmaceuticals Class Action Lawsuit stems from allegations that the company made misleading statements and failed to disclose essential information to its investors and shareholders. The lawsuit claims that Infinity misrepresented the effectiveness and potential of its drug candidate, resulting in significant financial losses for investors.

ALLEGATIONS IN THE INFINITY PHARMACEUTICALS CLASS ACTION LAWSUIT

Infinity Pharmaceuticals is a clinical-stage biopharmaceutical company focusing on the development of novel medicines for cancer patients.  During the Class Period, Infinity Pharmaceuticals purported to be developing eganelisib, a treatment for breast cancer, including through two clinical studies evaluating the safety and efficacy of the drug – MARIO-4 and MARIO-P.

The Infinity Pharmaceuticals class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that Infinity Pharmaceuticals falsely claimed that there were viable partnership opportunities for eganelisib’s development, but the MARIO-4 and MARIO-P studies would be initiated after the establishment of these partnerships.

On February 23, 2023, Infinity Pharmaceuticals announced that it had entered into a merger agreement with MEI Pharma, Inc (“MEI”).  The proposed transaction was all stock, pursuant to which Infinity Pharmaceuticals shareholders would receive shares of MEI common stock and Infinity Pharmaceuticals would become a wholly-owned subsidiary of MEI, with outstanding equity post-closing being held 58% by MEI shareholders and 42% by Infinity Pharmaceuticals shareholders.  Defendant Adeline Perkins, Chief Executive Officer of Infinity Pharmaceutics, stated Infinity Pharmaceuticals would “prioritize head and neck cancer.”  On this news, the price of Infinity Pharmaceuticals stock declined nearly 49%.

​Then, on July 24, 2023, Infinity Pharmaceuticals announced it was terminating the merger because MEI did not obtain stockholder approval for the merger.  On this news, the price of Infinity Pharmaceuticals stock declined more than 40%, further damaging investors who suffered losses in Infinity Pharmaceuticals. 

Impact on investors and shareholders

Investors and shareholders who purchased Infinity Pharmaceuticals stock during the relevant period and suffered losses may be eligible to join the class action lawsuit. The lawsuit represents an opportunity for affected individuals to seek compensation for their financial losses resulting from the alleged misconduct of the company.

Steps to join the Infinity Pharmaceuticals Class Action Lawsuit

If you believe you have suffered losses in Infinity Pharmaceuticals stock and wish to participate in the Infinity Pharmaceuticals class action lawsuit, there are several steps you can take:

1. Research: Familiarize yourself with the details of the lawsuit, including the eligibility criteria and the deadline for joining the class.
2. Documentation: Gather all relevant documentation, such as proof of stock purchases and any communication with Infinity Pharmaceuticals or its representatives.
3. Consultation: Seek legal advice from an experienced attorney specializing in securities litigation. They can guide you through the process and help you determine the best course of action.
4. Joining the class: If you meet the eligibility criteria, your attorney will assist you in filing the necessary paperwork to become a member of the class action lawsuit.

Hiring a lawyer for Infinity Pharmaceuticals stock loss

Navigating the legal waters of a class action lawsuit can be challenging, especially when dealing with complex securities litigation. It is crucial to hire an attorney with skill in this field to ensure your rights are protected and your claim is properly represented.
An experienced lawyer will have a deep understanding of securities laws, class action procedures, and the specific details of the Infinity Pharmaceuticals case. They will work diligently to gather evidence, assess damages, and build a strong case on your behalf. By hiring a lawyer, you can increase your chances of obtaining a favorable outcome and recovering your losses.

​​​One name that immediately pops up is Nashville stock loss lawyer Timothy L.  Miles, who has valuable experience working on some of the nation's largest securities class actions and has received numerous awards, mostly due to his high ethical standards, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating in securities litigation from Martindale-Hubble since 2014, a trusted legal rating service for over 130 years and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row and was a recipient of Avvo Client's Choice Award in 2021. 

THE LEAD PLAINTIFF PROCESS IN THE INFINITY PHARMACEUTICALS CLASS ACTION LAWSUIT

​The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Infinity Pharmaceuticals stock to seek appointment as lead plaintiff in the Infinity Pharmaceuticals class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
​

​A lead plaintiff acts 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 securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. 

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE INFINITY PHARMACEUTICALS CLASS ACTION LAWSUIT

​Serving as a Lead Plaintiff in the Infinity Pharmaceuticals class action lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits to serving as lead plaintiff in the Infinity Pharmaceuticals class action lawsuit if you suffered losses in Infinity Pharmaceuticals stock.

do THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE INFINITY PHARMACEUTICALS CLASS ACTION LAWSUIT SETTLES?

​No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Infinity Pharmaceuticals class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff which directly relates to the representation of the class in the Infinity Pharmaceuticals class action lawsuit on behalf of investors who suffered losses in Infinity Pharmaceuticals stock. ​

Other legal options for those affected by Infinity Pharmaceuticals stock loss

Aside from joining the class action lawsuit, individuals who have suffered losses in Infinity Pharmaceuticals stock may explore other legal options to seek compensation. These options may include filing an individual lawsuit against the company or pursuing alternative dispute resolution methods such as mediation or arbitration.
It is essential to consult with a knowledgeable attorney to evaluate the best course of action based on your specific circumstances. They can provide tailored advice and help you determine the most effective legal strategy to recover your losses.

WHEn to expect PAYMENT IF THE INFINITY PHARMACEUTICALS CLASS ACTION LAWSUIT SETTLES

​If there is a settlement in the Infinity Pharmaceuticals class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold Infinity Pharmaceuticals stock during the class period and suffered losses in stock.
 
The court will hold a final hearing in the class action against Infinity Pharmaceuticals on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the Infinity Pharmaceuticals class action lawsuit. ​

Conclusion: The importance of understanding class action lawsuits and protecting your rights

The Infinity Pharmaceuticals Class Action Lawsuit serves as a reminder of the importance of understanding class action lawsuits and protecting your rights as an investor or shareholder. By staying informed and seeking legal advice, when necessary, you can take proactive steps to safeguard your financial interests.

If you believe you have suffered losses in Infinity Pharmaceuticals stock, it is crucial to act promptly and consult with an experienced attorney in securities litigation. They can assess your case, explain your legal options, and guide you through the complex process of a class action lawsuit or any other legal recourse available to you.

Remember, being informed and taking appropriate action can make a significant difference in your ability to recover losses and hold companies accountable for their alleged misconduct.

CONTACT AN INFINITY PHARMACEUTICALS STOCK LOSS LAWYER TODAY IF YOU SUFFERED IN LOSSES IN INFINITY PHARMACEUTICALS STOCK ABOUT AN INFINITY PHARMACEUTICALS CLASS ACTION LAWSUIT

​If you suffered losses in Infinity Pharmaceuticals stock, contact Infinity Pharmaceuticals stock loss lawyer Timothy L. Miles today for a free case evaluation about the Infinity Pharmaceuticals Class Action Lawsuit. Call today and see what an Infinity Pharmaceuticals stock loss lawyer could do for you if you suffered losses in Infinity Pharmaceuticals stock.

Infinity Pharmaceuticals stock loss lawyer Timothy L. Miles 

​​​​​​Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing  shareholders, employees,  and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb ratedattorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
​Email: [email protected]