NEW YORK, Jan. 15, 2014 /PRNewswire/-- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Intercept Pharmaceuticals, Inc. ("Intercept" or the "Company") (NASDAQ: ICPT), concerning whether the board has breached its fiduciary duties to shareholders.
On January 10, 2014, the Company announced positive results in a clinical trial of obeticholic acid ("OCA"). On this news, Intercept stock increased over 500% in the following days. Then, on July 12, 2014, the Company disclosed that the OCA results had also included lipid abnormalities in some patients. On this news, Intercept stock dropped nearly $200 per share.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Intercept shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Matthew M. Houston, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP