NEW YORK, NY–LAWFUEL – The Law Firm Newswire – Jun 8, 2007 — The Rosen Law Firm today announced that it has filed the first securities class action lawsuit in the United States District Court for the Northern District of California on behalf of purchasers of Telik, Inc. (“Telik” or the “Company”) (NasdaqGM:TELK – News) common stock during the period from March 27, 2003 through June 4, 2007, inclusive (the “Class Period”), including purchasers in the Company’s November 5, 2003 and January 28, 2005 stock offerings.
To join the Telik class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
The Complaint charges Telik and certain of its officers and directors with violations of the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Sections 11, 12 and 15 of the Securities Act of 1933.
The Complaint alleges that during the Class Period, defendants made materially false and misleading statements about the Company’s lead drug candidate TELCYTA. The Complaint asserts the Company misled investors about the effectiveness and safety of TELCYTA and the conduct of certain clinical trials for TELCYTA during the Class Period. The Complaint further alleges that when the Company issued its preliminary results from its Phase III clinical trials of TELCYTA, defendants materially misled the investing public by concealing the fact that patients in those trials were dying much sooner than patients receiving the standard treatment. As a result of these alleged misrepresentations and omissions, the Complaint asserts that investors were damaged.
If you wish to serve as lead plaintiff, you must move the Court no later August 6, 2007. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff’s counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected]
The case is pending in the United States District Court for the Northern District of California as case no. C07-02986WHA. A related case is pending in the Southern District of New York. You can obtain a copy of the complaint from the clerk of court or you may contact counsel for plaintiffs Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected]
The Rosen Law Firm has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.