Robbins Geller Rudman & Dowd LLP Announces Proposed Settlement of Intercept Pharmaceuticals, Inc. Securities Litigation

NEW YORK, June 20, 2016 /PRNewswire/ -- The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Intercept Pharmaceuticals, Inc. Securities Litigation:  

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

TO:      ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF INTERCEPT PHARMACEUTICALS, INC. ("INTERCEPT") BETWEEN JANUARY 9, 2014 AND JANUARY 10, 2014, INCLUSIVE, AND WERE DAMAGED THEREBY

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of New York, that a hearing will be held on September 8, 2016, at 11:00 a.m., before the Honorable Naomi Reice Buchwald, United States District Judge, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 21A, New York, NY 10007-1312, for the purpose of determining: (1) whether the proposed settlement of the claims in the Litigation for the principal amount of $55,000,000.00, plus interest, should be approved by the Court as fair, just, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with Prejudice should be entered by the Court dismissing the Litigation with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for an award of attorneys' fees and expenses and Plaintiffs' expenses in connection with this Litigation should be approved.

IF YOU PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF INTERCEPT BETWEEN JANUARY 9, 2014 AND JANUARY 10, 2014, INCLUSIVE, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.  If you have not received a detailed Notice of Pendency of Class Action and Proposed Settlement ("Notice of Pendency") and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Intercept Securities Litigation, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 30217, College Station, TX 77842-3217, or at www.interceptsecuritieslitigation.com.  If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release by mail (postmarked no later than October 5, 2016) or submitted electronically no later than October 5, 2016, establishing that you are entitled to recovery.

If you are a Class Member and you desire to be excluded from the Class, you must submit a request for exclusion, in writing, to Intercept Securities Litigation, Exclusions, c/o Gilardi & Co. LLC, 3301 Kerner Blvd., San Rafael, CA 94901, such that it is postmarked no later than August 11, 2016.  All Members of the Class who do not timely and validly request exclusion from the Class in response to the Notice of Pendency will be bound by any judgment entered in the Litigation pursuant to the Stipulation.

Any objection to the settlement, the Plan of Allocation, or the fee and expense application must be received by each of the following recipients no later than August 11, 2016:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
DANIEL PATRICK MOYNIHAN UNITED STATES COURTHOUSE
500 Pearl Street
New York, NY  10007-1312

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the settlement, you may contact Lead Counsel at the address listed above or by an e-mail to Lead Counsel at [email protected].  Copies of certain pleadings and other documents filed in the Litigation can also be found at www.interceptsecuritieslitigation.com.

SOURCE Robbins Geller Rudman & Dowd LLP