IMPORTANT EQUITY ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Tokai Pharmaceuticals, Inc. and Reminds Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / August 31, 2016 / Lundin Law PC (the “Firm”) announces a class action lawsuit has been filed against Tokai Pharmaceuticals, Inc. (“Tokai” or the “Company”) (NASDAQ: TKAI) concerning possible violations of federal securities laws between June 24, 2015 and July 25, 2016 (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm before the September 30, 2016 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that the Company made false and misleading statements and/or failed to disclose: that there were significant structural problems with the trial design for its Phase 3 galeterone study, ARMOR3-SV; that ARMOR3-SV was unlikely to succeed in meeting its primary endpoint; the commercialization of galeterone was less likely than investors were led to believe; and as a result of the above, Tokai’s statements about its business, operations, and prospects were false and misleading at all relevant times. When the true details entered the public, shares of Tokai fell in value, causing investors harm.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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SOURCE: Lundin Law PC