NEW YORK, April 10, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Intercept Pharmaceuticals, Inc. ("Intercept" or the "Company") (Nasdaq:ICPT) common stock between January 9, 2014 and January 10, 2014.
For more information, click here: http://zlk.9nl.com/intercept-pharmaceuticals.
On January 9, 2014, Intercept announced that its Phase 2 trial of drug compound obeticholic acid (OCA) had been stopped early based on interim analysis showing that the primary endpoint had been met. Upon this news, shares of Intercept surged over 500 percent. Then on January 10, 2014, the National Institutes of Health issued a statement noting that while the efficacy primary endpoint had been met, participants in the study who had received OCA experienced "lipid abnormalities," including higher levels of "bad" LDL cholesterol. On this news, Intercept stock dropped from its $445.83 per share closing price on January 10, 2014 to close at $255.12 per share on January 14, 2014.
If you suffered a loss in Intercept you have until April 22, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/intercept-pharmaceuticals.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.