Intercept To Pay $55M To End Investors' Stock-Drop MDL

Law360, New York (May 6, 2016, 5:52 PM EDT) -- Intercept Pharmaceuticals Inc. will fork over $55 million to resolve multidistrict litigation brought by investors accusing it of securities fraud by concealing a liver drug’s side effects, according to a stipulation filed Thursday in New York federal court.

The pharmaceutical company said it continues to deny all claims alleged by the investors but noted that the uncertainty inherent in any litigation makes a settlement desirable. The investors also expressed their support of the settlement in a motion for preliminary approval, also filed Thursday, saying a trial...
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