HENDERSONVILLE, TN / ACCESSWIRE / July 27, 2019 / The Law Offices of Timothy L. Miles, which has been leading the fight to protect shareholder rights for over 18 years, announces that a purchaser of Karyopharm Therapeutics Inc. (KPTI) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between March 2, 2017 and February 22, 2019, and the Securities Exchange Act of 1933 for conduct related to the company's public offerings on April 28, 2017 and May 7, 2018. Karyopharm is a clinical-stage pharmaceutical company focused on the development of drugs for the treatment of cancer. Selinexor is Karyopharm's lead drug candidate for the treatment of various cancers.
Karyopharm Therapeutics Accused of Misleading Investors
According to the complaint, in March 2017, Karyopharmreported that its interim results from its SORPA study of selinexor did not reach statistical significance for overall survival among AML patients, the primary endpoint of the study. As a result, Karyopharm halted the trial, but assured investors that there were "no new clinically significant adverse events in the patients receiving selinexor." Throughout the relevant period, Karyopharm continued to tout the safety and commercial prospects of selixinor, assuring that it was "well tolerated" by patients. Despite these material misrepresentations and omissions, the truth was finally revealed on February 22, 2019, when the FDA released a briefing document expressing serious concerns about the safety of selixinor, stating in relevant part that the SORPA trial's results actually showed "worse overall survival" for patients due to its toxicity, giving it limited efficacy. On this news, Karyopharm's stock price declined $3.90, or more than 43% to close at $5.07.
The Law Offices of Timothy L. Miles Encourages Karyopharm Shareholders to Contact the Firm
If you purchased Karyopharm securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to email@example.com. If you inquire by email please include your mailing address, telephone number, and the number and dates of shares purchased.
About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder rights attorney from Nashville, Tennessee. Mr. Miles maintains the AV Preeminent Rating by Martindale-Hubbell, their highest rating for both legal ability and ethics, and is a is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, and is also a supurb rated attorney by Avvo, and the only class action lawyer in Nashville with an Avvo rating of 10, their highest rating available. Awards: Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV® Preeminent™ Rating by Martindale-Hubble® (2014-2019); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble® 2015); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for 2017 & 2018 (Avvo); Distinguished Lawyer (Lawyers of Disinction, 2019); America's Most Honored Professionals 2018 - Top 1% (The American Registry 2016-2018).
SOURCE:The Law Offices of Timothy L. Miles
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