San Diego, CA -- (SBWIRE) -- 08/24/2020 -- An investor, who purchased NASDAQ: MEIP shares, filed a lawsuit against MEI Pharma, Inc. over alleged violations of Federal Securities Laws.

Investors who purchased shares of MEI Pharma, Inc. (NASDAQ: MEIP) have certain options and for certain investors are short and strict deadlines running. Deadline: October 9, 2020. NASDAQ: MEIP investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On July 2, 2020, during pre-market hours MEI Pharma, Inc announced that it was discontinuing the Phase 3 Pracinostat Trial. Specifically, MEI Pharma, Inc advised that an interim futility analysis of the Phase 3 Pracinostat Trial, undertaken by the study's Independent Data Monitoring Committee ("IDMC"), "has demonstrated it was unlikely to meet the primary endpoint of overall survival compared to the control group," and that "[b]ased on the outcome of the interim analysis, the decision was made to discontinue the recruitment of patients and end the study," which "was based on a lack of efficacy and not on safety concerns."

The plaintiff claims that between August 2, 2017, and July 1, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that MEI Pharma had overstated Pracinostat's potential efficacy as an AML treatment for the target population, that consequently, the Phase 3 Pracinostat Trial was unlikely to meet its primary endpoint of overall survival, that 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 that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of MEI Pharma, Inc. (NASDAQ: MEIP) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.