SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Tokai Pharmaceuticals, Inc. of a Class Action Lawsuit & a L...
September 19 2016 - 1:33PM
Business Wire
The following statement is being issued by Levi & Korsinsky,
LLP:
To: All persons or entities who purchased or otherwise
acquired securities of Tokai Pharmaceuticals, Inc. (NASDAQGM:
TKAI) between June 24, 2015 through July 25,
2016.
You are hereby notified that a securities class action
has been commenced in the USDC for the Southern District of New
York. If you purchased or otherwise acquired Tokai securities
between June 24, 2015 and July 25, 2016, your rights may be
affected by this action. To get more information go to:
http://zlk.9nl.com/tokai-pharmaceuticals-tkai
The complaint alleges that throughout the Class Period,
Defendants issued false and/or misleading statements to investors
and/or failed to disclose that: (1) there were noteworthy
structural problems with ARMOR3-SV, the trial design for Tokai's
pivotal Phase 3 Galeterone study, (2) accordingly, ARMOR3-SV would
probably not meet its primary endpoint; (3) therefore, the
likelihood of Galeterone's commercialization was not as probable as
Tokai had told investors; and (4) consequently, Tokai's financial
statements were false and misleading and/or lacked a reasonable
basis.
Additionally, on July 26, 2016, Tokai announced it would end a
late-stage trial of Galeterone, saying it believed the stage 3
study would not meet its primary endpoint. Following this news,
Tokai shares fell from $5.20 on July 25, 2016, to a close of $1.10
on July 26, 2016.
If you suffered a loss in Tokai, you have until September 30, 2016 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery doesn’t require that you serve as a lead plaintiff. To
obtain additional information, contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/tokai-pharmaceuticals-tkai
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, California, Connecticut, and Washington D.C. The
firm’s attorneys have extensive expertise and experience
representing investors in securities litigation involving financial
fraud, and have recovered hundreds of millions of dollars for
aggrieved shareholders. Attorney advertising. Prior results do not
guarantee similar outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20160919006286/en/
Levi & Korsinsky, LLPEduard Korsinsky, Esq.Tel: (212)
363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com
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