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Case Status:    ONGOING    
On or around 08/02/2016 (Ongoing date of last review)

Filing Date: August 01, 2016

According to the law firm press release, Tokai is a biopharmaceutical company focused on developing and commercializing innovative therapies for prostate cancer and other hormonally-driven diseases. The Company’s lead drug candidate is galeterone, an oral small molecule that was, at all relevant times, in various clinical trials for the treatment of patients with metastatic castration-resistant prostate cancer.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) there were significant structural problems with the trial design for Tokai’s pivotal Phase 3 galeterone study, ARMOR3-SV; (ii) consequently, ARMOR3-SV was unlikely to succeed in meeting its primary endpoint; (iii) as a result, commercialization of galeterone was less likely and/or imminent than Tokai had led investors to believe; and (iv) as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about Tokai’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.


Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States


Ticker Symbol: TKAI
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data

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COURT: S.D. New York
DOCKET #: 16-CV-06106
JUDGE: Hon. Lorna G. Schofield
DATE FILED: 08/01/2016
CLASS PERIOD END: 07/25/2016
  1. Goldberg Law PC
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  2. Pomerantz LLP (New York)
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