The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Intercept Pharmaceuticals, Inc. (“Intercept” or “the Company”) (NASDAQ: ICPT) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The FDA released briefing documents on May 17, 2023, for an upcoming Gastrointestinal Drugs Advisory Committee meeting scheduled for May 19, 2023, to review Intercept’s Obeticholic Acid (OCA). The documents include concerns from FDA reviewers about OCA’s risks, stating: "Trial results for obeticholic acid indicate it causes multiple off-target effects that require multiple risk mitigation strategies with low likelihood of effectiveness." Based on this news, shares of Intercept dropped by more than 15% in intraday trading.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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