NEW YORK, Dec. 23, 2020 (GLOBE NEWSWIRE) — Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) between September 28, 2019 and October 7, 2020, inclusive (the “Class Period”).
To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=intercept-pharmaceuticals-inc&id=2505 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email email@example.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: defendants downplayed the true scope and severity of safety concerns associated with Ocaliva’s (obeticholic acid (“OCA”)) use in treating primary biliary cholangitis; the foregoing increased the likelihood of an FDA investigation into Ocaliva’s development, thereby jeopardizing Ocaliva’s continued marketability and the sustainability of its sales; any purported benefits associated with OCA’s efficacy in treating nonalcoholic steatohepatitis (“NASH”) were outweighed by the risks of its use; as a result, the FDA was unlikely to approve Intercept’s New Drug Application for OCA in treating patients with liver fibrosis due to NASH; and as a result of the foregoing, defendants’ positive statements about Intercept’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the 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 January 4, 2021.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
tel: (800) 991-3756
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