LOS ANGELES, Oct. 04, 2017 (GLOBE NEWSWIRE) -- Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”) (Nasdaq:ICPT) concerning possible violations of federal securities laws between May 31, 2016 and September 20, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the November 27, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, 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. Upon release of this news, shares of Intercept dropped in value materially, which caused investors harm according to the lawsuit.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/