MEI PHARMA INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of MEI Pharma, Inc. - MEIP
NEW ORLEANS, Feb. 5, 2021MEI PHARMA former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into MEI Pharma, Inc. (NasdaqGS: MEIP).
From August 2017, the Company repeatedly touted the potency and effectiveness of its drug candidate, Pracinostat, in its Phase 2 trial. However, on July 2, 2020, the Company disclosed that it was discontinuing the Phase 3 trial of Pracinostat, due to an interim futility analysis of the study that “demonstrated [MEI PHARMA ] was unlikely to meet the primary endpoint of overall survival compared to the control group.”
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether MEI’s officers and/or directors breached their fiduciary duties to MEI’s shareholders or otherwise violated state or federal laws.
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s MEI PHARMA premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
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