EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Tokai Pharmaceuticals, Inc. - TKAI

NEW YORK, Aug. 31, 2016 -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Tokai Pharmaceuticals, Inc. securities (NASDAQ:TKAI) from June 24, 2015 through July 25, 2016, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Tokai Pharmaceuticals investors under the federal securities laws.

To join the Tokai Pharmaceuticals class action, go to the firm’s website at http://rosenlegal.com/cases-928.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll free at 866-767-3653 or email [email protected] or [email protected] for more information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) there were significant structural problems with the trial design for Tokai Pharmaceuticals’ pivotal Phase 3 galeterone study, ARMOR3-SV; (2) in turn, ARMOR3-SV was unlikely to succeed in meeting its primary endpoint; (3) consequently, commercialization of galeterone was less likely and/or imminent than Tokai Pharmaceuticals had led investors to believe; and (4) as a result, defendants’ statements about Tokai Pharmaceuticals’ business and operations were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 30, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm’s website at http://rosenlegal.com/cases-928.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].

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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY  10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com