GlobeNewswire Inc | Dec 21, 2020 01:55PM EST

December 21, 2020

NEW YORK, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Intercept Pharmaceuticals, Inc. (NASDAQ: ICPT) from September 28, 2019 through October 7, 2020, inclusive (the Class Period). The lawsuit seeks to recover damages for Intercept Pharmaceuticals, Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or emailinfo@pawarlawgroup.comfor information on the class action.

According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) defendants downplayed the true scope and severity of safety concerns associated with Ocalivas(obeticholic acid (OCA))use in treating primary biliary cholangitis; (2) the foregoing increased the likelihood of an FDA investigation intoOcalivas development, thereby jeopardizingOcalivas continued marketability and the sustainability of its sales; (3) any purported benefits associated with OCAs efficacy in treating nonalcoholic steatohepatitis (NASH) were outweighed by the risks of its use; (4) as a result, the FDA was unlikely to approve Intercepts New Drug Application for OCA in treating patients with liver fibrosis due to NASH; and (5) as a result of the foregoing, defendants positive statements about Intercepts business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to serve as lead plaintiff, you must move the Court no later than January 4, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.

Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact:Vik Pawar, Esq.Pawar Law Group20 Vesey Street, Suite 1410New York, NY 10007Tel: (917) 261-2277Fax: (212) 571-0938info@pawarlawgroup.com