A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on October 5, 2016 and NASDAQ:ICPT investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/28/2016 -- The Shareholders Foundation announced that a deadline is coming up on October 5, 2016 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) between January 9, 2014 and January 10, 2014.
Investors who purchased a significant amount of shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) between January 9, 2014 and January 10, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Intercept Pharmaceuticals Inc (NASDAQ:ICPT) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/intercept-pharmaceuticals-inc-nasdaq-icpt-investor-securities-class-action-lawsuit-02212014
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is October 5, 2016. The class action administrator for this case is Gilardi & Co LLC.
The lawsuit was originally filed in the U.S. District Court for the Southern District of New York against Intercept Pharmaceuticals Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 9, 2014 and January 10, 2014. According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) between January 9, 2014 and January 10, 2014, that Intercept Pharmaceuticals Inc and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that on January 9, 2014 and January 10, 2014, Intercept Pharmaceuticals Inc announced that its Phase 2 trial of OCA for the treatment of NASH had been stopped early for efficacy based on an interim analysis that showed that the efficacy endpoint of the trial had been met and that as a result of the Company's announcements, Intercept Pharmaceuticals Inc's stock price skyrocketed from a January 8, 2014 close of $72.39 per share to a January 10, 2014 close of $445.83 per share. On January 9, 2014, Intercept Pharmaceuticals Inc 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 Pharmaceuticals Inc for the treatment of nonalcoholic steatohepatitis. On this news announcement, shares of Intercept Pharmaceuticals Inc increased over 500% over the next two trading sessions.
Those who purchased shares of Intercept Pharmaceuticals Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com