SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Tokai Pharmaceuticals, Inc. – TKAI

NEW YORK, NY / ACCESSWIRE / November 2, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Tokai Pharmaceuticals (“Tokai” or the “Company”) (NASDAQ: TKAI). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.

The investigation concerns whether Tokai and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On November 2, 2015, Seeking Alpha published a report titled “What’s Wrong With Tokai Pharmaceuticals?”, describing significant issues with the company’s trials for galeterone, Tokai’s sole product. The Seeking Alpha report stated, in part, that “Tokai’s attempt at a Phase 3 trial is based on data from just 6 patients out of 87 in Phase 2, based on after-the-fact cherry picking of data”; “Tokai dramatically changed its trial design between Phase 2 and Phase 3 and the FDA has already warned Tokai about problems with its trial design”; and “[i]nsider trading has been rampant ahead of preliminary data in 2016.”

On this news, Tokai’s stock has fallen $0.59, or 5.34%, during intraday trading on November 2, 2015.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP

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