In Jackie 888, Inc. v. Tokai Pharmaceuticals, Inc., Jackie 888 sued Tokai on behalf of itself and a putative class of individuals who had purchased Tokai stock, alleging Tokai made misleading statements in an IPO registration statement and prospectus. Jackie 888 moved for class certification.
Judge Kaplan stayed a securities litigation filed in the BLS in favor of a securities litigation filed in federal court. The plaintiff in Lowinger v. Solid Biosciences Inc. filed his putative class action in the BLS. A day earlier, the plaintiff in Watkins v. Solid Biosciences Inc. filed his putative class action in the United States District Court for the District of Massachusetts. Both cases alleged that the defendant, Solid Biosciences Inc. (SBI), had violated the Securities Act of 1933 when shares of SBI stock were sold to SBI investors.