Investigations
Elanco Animal Health Incorporated
Overview
Overview
- Deadline:
- Dec 6, 2024
| Company Name: | Company Name: Elanco Animal Health Incorporated |
| Stock Symbol: | Stock Symbol: ELAN |
Elanco Animal Health Incorporated (NYSE: ELAN): Elanco Animal Health (“Elanco” or the “Company”) and certain of the Company’s senior executives have been sued for violations of the federal securities laws. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Elanco securities. The case is pending in the U.S. District Court of Maryland and is captioned Barpar v. Elanco Animal Health Incorporated, et al., No. 24-cv-02912.
If you incurred losses on your investments in Elanco, you are encouraged to submit your information.
Why was Elanco Sued for Securities Fraud?
The Complaint alleges that Elanco develops products to treat diseases in animals. Two of the most important treatments in the company’s development pipeline are currently being reviewed by the U.S. Food and Drug Administration (“FDA”). The treatments are named Zenrelia, a drug for a type of dermatitis in dogs, and Credelio Quattro, which is a broad spectrum oral parasiticide covering fleas, ticks and internal parasites.
With respect to these treatments, the company stated that the FDA “has all data necessary to complete its review. All technical sections, including the label, are expected to be approved before the end of June” 2024.
However, on June 27, 2024, Elanco announced that it expected the FDA would not approve either drug in June 2024 and that Zenrelia would come with a boxed warning on safety.
The Stock Declines as the Truth is Revealed
The news of the delayed approval and boxed safety warning caused a significant 21% decline in the price of Elanco stock, from $17.97 per share on June 26, 2024 to $14.27 per share on June 27, 2024.
What are my Rights?
If you purchased or otherwise acquired Elanco securities, you may ask the Court no later than December 6, 2024, which is the first business day after 60 days from the date of the publication of notice of pendency of the action, to appoint you as Lead Plaintiff through counsel of your choice. To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff.
If you incurred losses on your investments in Elanco, you are encouraged to submit your information to speak with an attorney about your rights.
You can also contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The Firm will seek court approval for any potential fees and expenses.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.
If you incurred losses on your investments in Elanco, you are encouraged to submit your information.
Why was Elanco Sued for Securities Fraud?
The Complaint alleges that Elanco develops products to treat diseases in animals. Two of the most important treatments in the company’s development pipeline are currently being reviewed by the U.S. Food and Drug Administration (“FDA”). The treatments are named Zenrelia, a drug for a type of dermatitis in dogs, and Credelio Quattro, which is a broad spectrum oral parasiticide covering fleas, ticks and internal parasites.
With respect to these treatments, the company stated that the FDA “has all data necessary to complete its review. All technical sections, including the label, are expected to be approved before the end of June” 2024.
However, on June 27, 2024, Elanco announced that it expected the FDA would not approve either drug in June 2024 and that Zenrelia would come with a boxed warning on safety.
The Stock Declines as the Truth is Revealed
The news of the delayed approval and boxed safety warning caused a significant 21% decline in the price of Elanco stock, from $17.97 per share on June 26, 2024 to $14.27 per share on June 27, 2024.
What are my Rights?
If you purchased or otherwise acquired Elanco securities, you may ask the Court no later than December 6, 2024, which is the first business day after 60 days from the date of the publication of notice of pendency of the action, to appoint you as Lead Plaintiff through counsel of your choice. To be a member of the Class, you need not take any action at this time. The ability to share in any potential future recovery is not dependent on serving as Lead Plaintiff.
If you incurred losses on your investments in Elanco, you are encouraged to submit your information to speak with an attorney about your rights.
You can also contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The Firm will seek court approval for any potential fees and expenses.
Why Bleichmar Fonti & Auld LLP?
BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
Attorney advertising. Past results do not guarantee future outcomes.