NEW YORK--(BUSINESS WIRE)-- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT) who purchased shares between May 31, 2016 and September 20, 2017. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (i) the Company's lead product candidate, Ocaliva, entailed undisclosed safety risks, including death, to patients suffering from primary biliary cholangitis; and (ii) as a result of the foregoing, Intercept’s public statements were materially false and misleading at all relevant times. On September 12, 2017, Intercept issued a letter warning physicians against overdosing patients with Ocaliva, advising them that the drug has been tied to liver injuries and death among patients suffering from PBC. On September 21, 2017, the FDA issued a safety announcement warning doctors after reports of multiple deaths linked to the drug.
Shareholders have until November 27, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/intercept-pharmaceuticals-inc?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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The Klein Law Firm
Joseph Klein, Esq., 212-616-4899
Source: The Klein Law Firm