Full Press Release Details
SAN FRANCISCO, Nov. 18, 2024 (GLOBE NEWSWIRE) -- A federal lawsuit has been filed in the U.S. District Court of Maryland against Elanco Animal Health Inc. and specific executives, accusing them of making false and misleading statements between November 7, 2023, and June 26, 2024.
Hagens Berman urges Elanco Animal Health Incorporated (NYSE: ELAN) investors who suffered substantial losses to submit your losses now.
Class Period: Nov. 7, 2023 – June 26, 2024
Lead Plaintiff Deadline: Dec. 6, 2024
Contact the Firm Now: ELAN@hbsslaw.com
Class Action Lawsuit Against Elanco Animal Health Incorporated (ELAN):
The complaint alleges that the company minimized potential safety risks associated with Zenrelia, an oral Janus kinase inhibitor, while exaggerating its prospects for a swift U.S. market launch.
The controversy erupted on June 26, 2024, when Elanco revealed that Zenrelia's label would include a boxed warning, highlighting safety issues identified during trials with unvaccinated dogs. The warning is anticipated to significantly hinder product adoption and limit treatment days.
Following the disclosure, Elanco's stock plummeted by over 20%. During the company's Q2 earnings call on August 4, 2024, CEO Jeffrey N. Simmons conceded that the label language would "slow the initial product adoption curve" due to the necessity for targeted veterinary education. Simmons also projected a 25% reduction in treatment days owing to anticipated limitations related to vaccine usage outlined in the boxed warning.
Law firm Hagens Berman is investigating the allegations.
"Our focus is on determining whether Elanco's representations about Zenrelia's safety were accurate and truthful," said Reed Kathrein, lead partner at Hagens Berman.
If you invested in Elanco Animal Health and have substantial losses submit your losses now »
If you’d like more information and answers to frequently asked questions about the Elanco case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Elanco should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ELAN@hbsslaw.com.
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895