ELAN INVESTOR ALERT: Edelson Lechtzin LLP Urges Elanco Animal Health Incorporated (NYSE: ELAN) Shareholders with Substantial Losses to Consult Legal Counsel About the Pending Securities Fraud Class Action
NEWTOWN, Pa., Oct. 13, 2024 /PRNewswire/ -- Edelson Lechtzin LLP, a leading class action law firm, announces the filing of a securities fraud class action on behalf of all purchasers of Elanco Animal Health Incorporated stock (NYSE: ELAN) between November 7, 2023, and June 26, 2024, inclusive (the "Class Period"). To join this lawsuit, click HERE.
Investors who purchased Elanco stock may move the U.S. District Court for the District of Maryland (Northern Division) to appoint them as lead plaintiff, no later than December 6, 2024. Please contact Edelson Lechtzin LLP to discuss the recovery of your investment losses at 844-696-7492, or by e-mail at elechtzin@edelson-law.com.
Background Elanco Animal Health Incorporated
Elanco, based in Greenfield, Indiana, is an animal health company specializing in the development and manufacture of pharmaceuticals and vaccines for pets and livestock.
The Securities Fraud Claims
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding Elanco's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) Zenrelia was less safe than the Company had led investors to believe; (ii) Elanco was unlikely to meet its own previously issued timeline for U.S. approval and commercial launch of both Zenrelia and Credelio Quattro; and (iii) as a result, the Company's business and financial prospects were overstated.
On June 27, 2024, Elanco announced that Zenrelia's U.S. label would include a safety warning based on a trial with unvaccinated dogs, which was expected to slow product adoption and limit treatment days by approximately 25%. Zenrelia is anticipated to be FDA-approved in the third quarter of 2024, with a potential commercial launch in the fourth quarter of 2024. Credelio Quattro also will likely receive FDA approval in the fourth quarter of 2024. On this news, Elanco's stock price fell $3.69 per share, or 20.53%, to close at $14.28 on June 27, 2024.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: medelson@edelson-law.com
Email: elechtzin@edelson-law.com
Web: www.edelson-law.com
Edelson Lechtzin LLP is a leading class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
SOURCE Edelson Lechtzin LLP
