Elanco Animal Health lawsuit filed - December 6 deadline approaching
- A lawsuit has been filed against Elanco Animal Health for potential violations of federal securities laws.
- The case involves misleading statements concerning FDA approval related to two important veterinary treatments.
- Affected investors have until December 6, 2024, to join the lawsuit and seek potential compensation.
On October 19, 2024, it was announced that a lawsuit has been filed against Elanco Animal Health, a company based in the United States, alleging violations of federal securities laws. The lawsuit, lodged in the U.S. District Court of Maryland, accuses Elanco and its executives of misleading investors regarding the approval of two critical veterinary treatments, Zenrelia and Credelio Quattro, while these products were under review by the FDA. The claims focus on statements made by the company ahead of the FDA’s decision, particularly following an announcement in June 2024 indicating that both drugs would likely not receive approval and that Zenrelia would carry a boxed safety warning. This revelation led to a significant drop in Elanco’s stock price by over 21%, from $17.97 to $14.27 per share, raising concerns about the accuracy of the company's prior communications to investors. The law firm Bleichmar Fonti & Auld LLP is representing investors affected by this decline, seeking court approval to lead the case. The deadline for affected investors to apply to join the lawsuit is December 6, 2024. Customers of Elanco are encouraged to explore their legal options as there are no costs unless the case successfully results in compensation.