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 firstname.lastname@example.org 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.
3111 Camino Del Rio North - Suite 423
92108 San Diego