Elanco(US:ELAN) GlobeNewswire News Room·2024-11-18 12:46Core Viewpoint - A lawsuit has been filed against Elanco Animal Health Incorporated and certain senior executives for potential violations of federal securities laws, particularly concerning the FDA approval of key drug treatments [1][2]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court of Maryland, captioned Barpar v. Elanco Animal Health Incorporated, et al., No. 24-cv-02912 [2]. - Investors have until December 6, 2024, to request to be appointed to lead the case [2]. Group 2: Product Development and FDA Review - Elanco is developing two significant treatments: Zenrelia for dermatitis in dogs and Credelio Quattro, an oral parasiticide for fleas, ticks, and internal parasites [3]. - The company previously stated that the FDA had all necessary data for review and expected approvals by the end of June 2024 [4]. Group 3: Stock Price Impact - Following the announcement that the FDA would not approve the drugs as expected, Elanco's stock price fell over 21%, from $17.97 on June 26, 2024, to $14.27 on June 27, 2024 [5]. - The lawsuit investigates whether Elanco and its executives made materially false or misleading statements regarding the FDA's approval process [5]. Group 4: Legal Representation - Investors in Elanco may have legal options and are encouraged to submit their information to the law firm handling the case, with representation on a contingency fee basis [6]. - The firm has a strong track record in securities class actions, having recovered significant amounts from other companies [7].