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.
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SOURCE Edelson Lechtzin LLP