An investigation for current long-term investors in shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) over potential wrongdoing by certain officers and directors of Intercept Pharmaceuticals Inc was announced and current long-term NASDAQ:ICPT stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 01/21/2014 -- An investigation on behalf of current long-term stockholders of shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) was announced concerning whether Intercept Pharmaceuticals officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who are current long-term stockholders of shares of Intercept Pharmaceuticals Inc (NASDAQ:ICPT) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554
The investigation by a law firm concerns whether certain Intercept Pharmaceuticals officers and directors breached their fiduciary duties
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 and 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.
Those who purchased shares of Intercept Pharmaceuticals Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com