Elanco Animal Health Investors Urged to Act Before Class Action Deadline
- Rosen Law Firm has filed a class action lawsuit on behalf of investors who purchased securities of Elanco Animal Health Incorporated between November 7, 2023, and June 26, 2024.
- The lawsuit alleges that Elanco made misleading statements regarding the safety and approval timelines of its products, Zenrelia and Credelio Quattro.
- Investors may be entitled to compensation without upfront costs, and the deadline to move the court as lead plaintiff is December 6, 2024.
On October 13, 2024, Rosen Law Firm announced the filing of a class action lawsuit against Elanco Animal Health Incorporated, a company listed on the NYSE under the ticker ELAN. This lawsuit is on behalf of investors who purchased Elanco's securities during a specified class period from November 7, 2023, to June 26, 2024. The firm is known for its focus on investor rights and has a history of significant settlements in securities class actions. The lawsuit claims that Elanco made several false and misleading statements regarding its products, particularly Zenrelia, a JAK inhibitor for canine dermatology, and Credelio Quattro, a parasiticide for dogs. Allegations include that Elanco misrepresented the safety of Zenrelia and was unlikely to meet its own timelines for product approval and launch, which ultimately overstated the company's business and financial prospects. Investors who purchased securities during the class period may be eligible for compensation without any out-of-pocket fees, as the law firm operates on a contingency fee basis. However, it is important to note that no class has been certified yet, meaning investors are not represented unless they retain counsel. The deadline for investors wishing to serve as lead plaintiff in this case is December 6, 2024. This situation highlights the importance of transparency and accurate communication from companies to their investors, especially in the highly regulated pharmaceutical industry.