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TMCNet:  Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Intercept Pharmaceuticals, Inc.

[January 14, 2014]

Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Intercept Pharmaceuticals, Inc.

SAN DIEGO --(Business Wire)--

Shareholder rights law firm Johnson & Weaver, LLP has commenced an investigation into whether certain officers and directors of Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) violated state or federal laws.

Before the stock market opened on January 9, 2014, Intercept Pharmaceuticals announced that the FLINT clinical trial study of obeticholic acid (OCA) was stopped early for efficacy after a planned interim analysis showed the primary endpoint had been met. OCA is being developed by Intercept for the treatment of nonalcoholic steatohepatitis. On this news announcement, shares of Intercept Pharmaceuticals increased over 500% over the next two trading sessions.

After the market close on Friday, January 10, 2014, The Wall Street Journal issued a report via a statement made by the National Institutes of Health stating that patients treated with Intercept's OCA in the clinical trial experienced "lipid abnormalities," higher levels of "bad" LDL cholesterol ad lowers levels of "good" HDL cholesterol, compared to patients treated with placebo.


On Sunday, January 12, 2014, Intercept Pharmaceuticals made an announcement providing additional details of the OCA study including the lipid abnormalities disclosed in The Wall Street Journal report. In midday trading on Tuesday, January 14, 2014, the stock has traded down as much as $210.83 or 47% since the announcement made on Sunday.

This investigation will determine if shareholders of Intercept were misled by the timing of released information and the exclusion of material facts regarding OCA's trial results.

If you have information that could assist in this investigation, or if you are a Intercept Pharmaceuticals shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (jimb@johnsonandweaver.com) by email or by phone at 619-230-0063, Ext. 118.

Johnson & Weaver, LLP is a nationally recognized shareholders' rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.


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