LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”) (NASDAQ: ICPT) securities between May 31, 2016 and September 20, 2017, inclusive (the “Class Period”). Intercept investors have until November 27, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Intercept page on our website at www.glancylaw.com/case/intercept-pharmaceuticals-inc.
Investors suffering losses on their Intercept investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
The complaint filed in this class action alleges that throughout the Class Period, Intercept made materially false and/or misleading statements, and/or failed to disclose, that its lead product candidate, Ocaliva, entailed undisclosed safety risks, including death, to patients suffering from primary biliary cholangitis ("PBC"). As a result, the Company's public statements were materially false and misleading at all relevant times. On September 12, 2017, Intercept issued a letter that warned physicians against overdosing patients with Ocaliva, advising them that the drug has been connected to liver injuries and death among patients suffering from PBC. On September 21, 2017, the U.S. Food & Drug Administration issued a safety announcement entitled, "FDA Drug Safety Communication: FDA warns about serious liver injury with Ocaliva for rare chronic liver disease," warning doctors after reports of multiple deaths linked to the drug. When this news was announced, shares of Intercept lowered in value materially, which caused investors harm according to the lawsuit.
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If you purchased shares of Intercept during the Class Period you may move the Court no later than November 27, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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