NEW YORK, Aug. 03, 2016 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit hasbeen filed against Tokai Pharmaceuticals, Inc. (“Tokai” or the “Company”) (Nasdaq:TKAI) in the United States District Court for theSouthern District of New York on behalf of purchasers of common stock of Tokai between June 24, 2015 through July 25, 2016,inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934 (the “Exchange Act”).

According to the Complaint, Defendants issued false and misleading statements to investors and/or failed todisclose that: (1) there were significant structural problems with the trial design for Tokai Pharmaceuticals’ pivotal Phase 3galeterone 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 had led investors to believe; and (4) as a result,Defendants’ statements about Tokai’s business and operations were false and misleading and/or lacked a reasonable basis. Whenthe true details entered the market, the lawsuit claims that investors suffered damages.

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 directingthe litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action,please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mailat [email protected] or [email protected].

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