LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Elanco Animal Health Incorporated (“Elanco” or “the Company”) (NYSE: ELAN) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between January 10, 2020 and May 06, 2020, inclusive (the ''Class Period''), are encouraged to contact the firm before July 20, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Elanco consolidated its distributors from eight different organizations to four, and then increased the amount of inventory held by each distributor. These distributors did not demonstrate a sufficient level of demand to sell through the increased inventory, leading to both a decline in inventory and the Company reducing its channel inventory. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Elanco, investors suffered damages.
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