On July 19, 2023, Anson Funds and Cable Car Capital LLC issued a statement in response to MEI Pharma, Inc.?s purported invalidation of their consent solicitation to remove the entire Board of Directors of the Company. In the statement, Anson Funds and Cable Car Capital stated that the Company?s bylaws and recent merger proxy disclosures provide for and acknowledge the ability of stockholders to remove directors without cause. Anson Funds and Cable Car Capital added that the suggestion that bylaws have been invalid for years and the Merger S-4 contained material misrepresentations regarding shareholder rights provides further grounds for board removal.

Anson Funds and Cable Car Capital also stated that the Company?s Board must be held accountable for its unacceptable corporate governance and poor stewardship.