NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until July 20, 2020 to file lead plaintiff applications in a securities class action lawsuit against Elanco Animal Health Incorporated (NYSE: ELAN), if they purchased the Company’s securities between January 10, 2020 and May 6, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of Indiana.
Elanco investors should visit us at https://www.claimsfiler.com/cases/view-elanco-animal-health-incorporated-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Elanco and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On May 7, 2020, pre-market, the Company disclosed disappointing 1Q2020 financial results including revenue of $657.7 million and earnings per share of -$0.12, reflecting “a reduction of approximately $60 million in channel inventory” due in part to “distributor performance,” and that the Company planned “to tighten [its] approach across many facets of [its] distributor relationships.” On this news, the price of Elanco’s shares plummeted over 13%, to close at $19.88 per share on May 7, 2020, on unusually heavy trading volume.
The case is Hunter v. Elanco Animal Health Incorporated, et al., 20-cv-01460.
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