Intercept Pharma (ICPT) Receives Final Approval for Securities Class Action Settlement
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Intercept Pharma (Nasdaq: ICPT) disclosed the following in a U.S. SEC filing on Monday:
Item 8.01 Other Events.
On September 8, 2016, the U.S. District Court for the Southern District of New York (the “Court”) granted final approval of the previously announced agreement with the lead plaintiff to settle the purported securities class action litigation, styled In re: Intercept Pharmaceuticals, Inc. Securities Litigation, against Intercept Pharmaceuticals, Inc. (the “Company” or “Intercept”) and certain of its officers.
The settlement included the payment of $55 million, of which $10 million was funded by the Company’s insurers. The defendants do not admit any liability as part of the settlement.
The final judgment and order of the Court included a dismissal of the action with prejudice against all defendants.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Chipotle Mexican Grill (CMG) Sees Q4 Revenue of $1.04B, Comps Down 4.8%
- Ooma (OOMA) Reports Secondary Offering by Certain Stockholders
- Glu Mobile (GLUU) to Eliminate 107 Positions as Part of Restructuring, Discontinue Ops in Bellevue
Create E-mail Alert Related CategoriesCorporate News, Litigation
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!