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Philadelphia, Pennsylvania--(Newsfile Corp. - October 23, 2021) - Kaskela Law LLC announces that it is investigating Intercept Pharmaceuticals, Inc. ("Intercept" or the "Company") (NASDAQ: ICPT) on behalf of the Company's stockholders.
Recently an amended securities fraud complaint was filed against Intercept on behalf of investors who purchased shares of Intercept's common stock between September 27, 2019 and October 8, 2020. According to the complaint, during that time period Intercept and certain senior executive officers issued a series of false and misleading statements, and omitted to disclose material facts, to investors in connection with the Company's new drug application (NDA) submitted to the U.S. Food and Drug Administration (FDA) seeking the approval of obeticholic acid (OCA) for the treatment of nonalcoholic steatohepatitis (NASH).
The complaint further alleges that, following a series of disclosures made by the Company in May and June 2020, shares of Intercept's common stock declined in value from over $90 per share to below $40 per share.
The investigation seeks to determine whether the members of Intercept's board of directors breached their fiduciary duties or violated the securities laws in connection with the above alleged misconduct.
Current Intercept stockholders who purchased or acquired shares of the Company's common stock prior to September 27, 2019 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 - 1585, or by email at email@example.com , to discuss this investigation and their legal rights and options. Additional information may also be found at https://kaskelalaw.com/cases/intercept-pharmaceuticals-inc/.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
David Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 - 1585
(888) 715 - 1740
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100644