| COMPANY |
Intercept Pharmaceuticals, Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
20-cv-00036 |
| JUDGE |
The Honorable Lewis J. Liman |
| CLASS PERIOD |
September 28, 2019 - October 7, 2020 |
| SECURITY TYPE |
Common Stock |
Case Background:
This action is brought on behalf of all investors who purchased Intercept Pharmaceuticals, Inc. common stock between September 27, 2019 and October 8, 2020 (the “Class Period”).
The complaint alleges that throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that: (1) the defendants downplayed the true scope and severity of safety concerns associated with Ocaliva’s use in treating PBC; (2) 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; (3) any purported benefits associated with OCA’s efficacy in treating NASH were outweighed by the risks of its use; (4) as a result, the FDA was unlikely to approve Intercept’s NDA for OCA in treating patients with liver fibrosis due to NASH; and (5) as a result of all the foregoing, Intercept’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On March 21, 2022, the Court granted Defendants’ Motion to Dismiss the complaint. On April 20, 2022, the Court directed the clerk to close the case. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.