NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Elanco Animal Health Incorporated (NYSE: ELAN) on behalf of Elanco stockholders. Our investigation concerns whether Elanco has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 7, 2020, Elanco reported its financial and operating results for the first quarter of 2020. For the quarter, Elanco reported GAAP earnings per share of -$0.12, missing consensus estimates by $0.18, and revenue of $657.7 million, missing consensus estimates by $62.49 million. Explaining the Company’s disappointing results, Elanco’s President and Chief Executive Officer cited, among other factors, “distributor performance” and stated that Elanco intended “to tighten our approach across many facets of our distributor relationships.”
On this news, Elanco’s stock price fell $3.05 per share, or 13.3%, to close at $19.88 per share on May 7, 2020.
If you purchased or otherwise acquired Elanco shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.