|By PR Newswire||
|February 25, 2014 02:57 PM EST||
NEW YORK, Feb. 25, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Intercept Pharmaceuticals, Inc. ("Intercept" or the "Company") (NasdaqGS: ICPT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Intercept and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 10, 2014, after the market closed, the National Institutes of Health's ("NIH") National Institute of Diabetes and Digestive and Kidney Diseases issued a press release stating that while the efficacy primary endpoint for the Company's primary drug compound, known as obeticholic acid ("OCA"), in the Phase 2 study had already been met, participants in the study who received the drug suffered disproportionate levels of lipid abnormalities.
On this news, shares of Intercept fell over $81.00 per share to $364.36 or more than 18.20%, on February 10, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP