NEW YORK, Sept. 9, 2016 /PRNewswire/ -- The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Southern District of New York on behalf of investors who purchased Tokai Pharmaceuticals, Inc. (NASDAQGM: TKAI) securities between June 24, 2015 and July 25, 2016.
Click here to learn about the case: http://www.wongesq.com/pslra/tokai-pharmaceuticals-inc. There is no cost or obligation to you.
According to the complaint, throughout the Class Period, Defendants issued false and/or misleading statements to investors and/or failed to disclose that: (1) there were noteworthy structural problems with ARMOR3-SV, the trial design for Tokai's pivotal Phase 3 Galeterone study, (2) accordingly, ARMOR3-SV would probably not meet its primary endpoint; (3) therefore, the likelihood of Galeterone's commercialization was not as probable as Tokai had told investors; and (4) consequently, Tokai's financial statements were false and misleading and/or lacked a reasonable basis.
Additionally, on July 26, 2016, Tokai announced it would end a late-stage trial of Galeterone, saying it believed the stage 3 study would not meet its primary endpoint. Following this news, Tokai shares fell from $5.20 on July 25, 2016, to a close of $1.10 on July 26, 2016.
If you suffered a loss in Tokai you have until September 30, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra/tokai-pharmaceuticals-inc.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
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SOURCE The Law Offices of Vincent Wong