|[January 14, 2014]
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Intercept Pharmaceuticals, Inc.
SAN DIEGO --(Business Wire)--
Shareholder rights law firm Johnson & Weaver, LLP has commenced an
investigation into whether certain officers and directors of Intercept
Pharmaceuticals, Inc. (NASDAQ: ICPT) violated state or federal laws.
Before the stock market opened on January 9, 2014, Intercept
Pharmaceuticals announced that the FLINT clinical trial study of
obeticholic acid (OCA) was stopped early for efficacy after a planned
interim analysis showed the primary endpoint had been met. OCA is being
developed by Intercept for the treatment of nonalcoholic
steatohepatitis. On this news announcement, shares of Intercept
Pharmaceuticals increased over 500% over the next two trading sessions.
After the market close on Friday, January 10, 2014, The Wall Street
Journal issued a report via a statement made by the National Institutes
of Health stating that patients treated with Intercept's OCA in the
clinical trial experienced "lipid abnormalities," higher levels of "bad"
LDL cholesterol ad lowers levels of "good" HDL cholesterol, compared to
patients treated with placebo.
On Sunday, January 12, 2014, Intercept Pharmaceuticals made an
announcement providing additional details of the OCA study including the
lipid abnormalities disclosed in The Wall Street Journal report. In
midday trading on Tuesday, January 14, 2014, the stock has traded down
as much as $210.83 or 47% since the announcement made on Sunday.
This investigation will determine if shareholders of Intercept were
misled by the timing of released information and the exclusion of
material facts regarding OCA's trial results.
If you have information that could assist in this investigation, or if
you are a Intercept Pharmaceuticals shareholder and are interested in
learning more about the investigation or your legal rights and remedies,
please contact Jim Baker (email@example.com) by
email or by phone at 619-230-0063, Ext. 118.
Johnson & Weaver, LLP is a nationally recognized shareholders' rights
law firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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