ELAN LEGAL UPDATE: A Lawsuit has been Filed Against Elanco Animal Health for Securities Fraud - Contact BFA Law before Court Deadline (NYSE:ELAN)
ElancoElanco(US:ELAN) GlobeNewswire News Room·2024-11-28 08:39

Core 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, titled Barpar v. Elanco Animal Health Incorporated, et al., No. 24-cv-02912, with investors having until December 6, 2024, to seek lead plaintiff status [2]. - The complaint alleges that Elanco misled investors regarding the FDA's review process for two significant treatments: Zenrelia and Credelio Quattro [3][5]. Group 2: FDA Review and Stock Impact - Elanco had previously stated that the FDA had all necessary data for review and expected approvals by the end of June 2024. However, on June 27, 2024, the company announced that neither drug would be approved as anticipated, and Zenrelia would carry a boxed safety warning [4]. - Following this announcement, Elanco's stock price fell over 21%, dropping from $17.97 per share on June 26, 2024, to $14.27 per share on June 27, 2024 [5]. Group 3: Legal Options for Investors - Investors in Elanco Animal Health Incorporated 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].

ELAN LEGAL UPDATE: A Lawsuit has been Filed Against Elanco Animal Health for Securities Fraud - Contact BFA Law before Court Deadline (NYSE:ELAN) - Reportify