Kaskela Law LLC Announces Investigation of Karyopharm Therapeutics Inc. (KPTI) and Encourages Long-Term Stockholders to Contact the Firm
PHILADELPHIA, Aug. 10, 2020 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating Karyopharm Therapeutics Inc. ("Karyopharm" or the "Company") (NASDAQ: KPTI) on behalf of the Company's stockholders. The investigation seeks to determine whether the members of Karyopharm's board of directors breached their fiduciary duties to the Company and its stockholders.
Current Karyopharm stockholders who purchased or acquired shares of the Company's stock prior to March 2, 2017 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or online at http://kaskelalaw.com/case/karyopharm/, to discuss this investigation and their legal rights and options with respect to this matter.
Recently a securities fraud complaint was filed against Karyopharm in federal court on behalf of investors who purchased or acquired shares of the Company's stock between March 2, 2017 and February 22, 2019.
According to the complaint, during that time period Karyopharm and certain of the Company's executive officers issued a series of false and/or misleading statements to investors concerning the safety and efficacy of Selinexor, a cancer fighting drug. Specifically, the complaint alleges that "[c]ontrary to the actual results shown by its clinical trials, Karyopharm and its management told investors that selinexor resulted in better overall survival for patients than those who were not treating with selinexor."
As further detailed in the complaint, on February 22, 2019, the FDA released a briefing document "identifying serious flaws" in Karyopharm's New Drug Application (NDA) and the underlying clinical trial data for selinexor. In particular, the briefing document "explained in detail that Karyopharm's clinical trials demonstrated a longstanding history of toxicity and limited efficacy findings due to its trial designs." Following this news, shares of the Company's stock declined over 43% in value, on heavy trading volume.
Current Karyopharm stockholders who purchased or acquired shares of the Company's stock prior to March 2, 2017 are encouraged to contact Kaskela Law LLC for additional information about this investigation and their legal rights and options with respect to this matter.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com
skaskela@kaskelalaw.com
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SOURCE Kaskela Law LLC
