A Deadline is coming up on December 13, 2016 in the lawsuit for investors in Tokai Pharmaceuticals Inc (NASDAQ:TKAI) and NASDAQ:TKAI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/12/2016 -- The Shareholders Foundation announced that a deadline is coming up on December 13, 2016 in the lawsuit filed for investors of Tokai Pharmaceuticals Inc (NASDAQ:TKAI) over alleged securities laws violations by Tokai Pharmaceuticals.
Investors who purchased shares of Tokai Pharmaceuticals Inc (NASDAQ:TKAI) have certain options and there are strict and short deadlines running. Deadline: December 13, 2016. NASDAQ:TKAI stockholders should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of certain purchasers of Tokai Pharmaceuticals Inc (NASDAQ:TKAI) that the Defendants made materially false and/or misleading statements, as well as failed to disclose information with regard to Tokai's operations and compliance policies byfailing to inform and/or misrepresent the structural problems of phase 3 of the Galeterone trial to shareholders, which subsequently resulted in the failure of the trial, and by filing materially false and/or misleading financial statements.
On July 26, 2016, Tokai Pharmaceuticals Inc announced that it was ending a late-stage trial of galeterone, its potential prostate cancer therapy. Tokai Pharmaceuticals Inc stated that it did not believe the phase 3 study would meet its primary endpoint.Shares of Tokai Pharmaceuticals Inc (NASDAQ:TKAI) declined from $18.39 per share in September 2014 to as low as $1.01 per share on July 28, 2016.
Those who purchased shares of Tokai Pharmaceuticals Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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