Intercept Pharmaceuticals, Inc. is an American biopharmaceutical company focusing on the development of novel synthetic bile acid analogs to treat chronic liver diseases.

According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. The Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Ocaliva entailed undisclosed safety risks, including death, to patients suffering from PBC; and (ii) as a result of the foregoing, Intercept’s public statements were materially false and misleading at all relevant times.

On June 1, 2018, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on July 31. Defendants filed a Motion to Dismiss the amended Complaint on September 14. On March 26, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. On October 9, Lead Plaintiffs filed a notice appealing the Court's Dismissal Order.

On July 20, 2022, the Court of Appeals affirmed the District Court's Dismissal Order.