Kaskela Law LLC is investigating Intercept Pharmaceuticals, Inc. (“Intercept” or the “Company”) (NASDAQ: ICPT) on behalf of the Company’s stockholders.
Recently an amended securities fraud complaint was filed against Intercept on behalf of investors who purchased shares of Intercept’s common stock between September 27, 2019 and October 8, 2020. According to the complaint, during that time period Intercept and certain senior executive officers issued a series of false and misleading statements, and omitted to disclose material facts, to investors in connection with the Company’s new drug application (NDA) submitted to the U.S. Food and Drug Administration (FDA) seeking the approval of obeticholic acid (OCA) for the treatment of nonalcoholic steatohepatitis (NASH).
The complaint further alleges that, following a series of disclosures made by the Company in May and June 2020, shares of Intercept’s common stock declined in value from over $90 per share to below $40 per share.
The investigation seeks to determine whether the members of Intercept’s board of directors breached their fiduciary duties or violated the securities laws in connection with the above alleged misconduct.
Current Intercept stockholders who purchased or acquired shares of the Company’s common stock prior to September 27, 2019 are encouraged to contact Kaskela Law LLC at (484) 258 – 1585, or by completing the form on this page, for additional information about this investigation and their legal rights and options.