NEW YORK, Oct. 19, 2024 (GLOBE NEWSWIRE) — Leading securities law firm Breichmer Fonti & Auld LLP has suspended Elanco Animal Health, Inc. (NYSE:ELAN) for possible violations. and some of the company’s senior executives. Federal securities laws.
If you are an investor in Elanco, we encourage you to visit https://www.bfalaw.com/cases-investigations/elanco-animal-health-incorporated for additional information.
Investors have until December 6, 2024 to ask the court to appoint a director of the litigation. This complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in the securities of Elanco Animal Health, Inc. The case is pending in the U.S. District Court for the District of Maryland and is entitled “Barpar v. Elanco Animal Health Incorporated, et al., No. 24-cv-02912.”
What is a lawsuit?
The complaint alleges that Elanco develops products to treat diseases in animals. The two most important treatments in the Company’s development pipeline are currently under review by the U.S. Food and Drug Administration (“FDA”). The treatments are named Zenrelia, a treatment for a type of dermatitis in dogs, and Credelio Cuatro, a broad-spectrum oral parasiticide that targets fleas, ticks and internal parasites.
Regarding these treatments, the company said the FDA “has all the necessary data to complete its review.” All technical sections, including labels, are expected to be approved by the end of June 2024. However, on June 27, 2024, Elanco announced that it did not expect the FDA to approve either drug in June 2024 and that Zenrelia would come with a boxed safety warning.
As a result of this news, Elanco’s stock price declined more than 21% from $17.97 per share on June 26, 2024 to $14.27 per share on June 27, 2024. BFA Law is investigating whether Elanco and some of its executives made material false statements. or misleading statements to investors related to FDA drug approvals.
If you have suffered a loss, click here: https://www.bfalaw.com/cases-investigations/elanco-animal-health-incorporated.
What can you do?
If you have invested in Elanco Animal Health Incorporated (NYSE: ELAN), you are encouraged to submit your information to the company as you may have legal options.
All representation is done on a contingency fee basis and is free of charge. Stockholders are not responsible for legal fees or costs. The company plans to seek court approval for potential fees and costs.
Please visit below to submit your information.
https://www.bfalaw.com/cases-investigations/elanco-animal-health-incorporated
Alternatively, please contact us at:
Ross Sikowitz
ross@bfalaw.com
212-789-3619
Why choose Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. The firm was named a Top 5 Plaintiffs’ Law Firm by ISS SCAS in 2023, and its attorneys were named Titans of Plaintiffs’ Lawyers by Law360 and SuperLawyers by Thompson Reuters. Among recent notable successes, BFA recovered more than $900 million in value from the board of directors of Tesla, Inc. (pending court approval) and $420 million from Teva Pharmaceutical Ind. Ltd. Recovered.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
https://www.bfalaw.com/cases-investigations/elanco-animal-health-incorporated
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