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Case Status:    ONGOING    
On or around 09/11/2020 (Date of last review)

Filing Date: May 20, 2020

According to the Complaint, Elanco Animal Health Incorporated is an animal health company that develops, manufactures, and markets products for companion and food animals.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that, after consolidating its distributors from eight to four, the Company increased the amount of inventory, including companion animal products, held by each distributor; (2) that Elanco’s distributors were not experiencing sufficient demand to sell through the inventory; (3) that, as a result, the Company’s revenue was reasonably likely to decline; (4) that, as a result of the foregoing, Elanco would reduce its channel inventory with respect to companion animal products; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On September 2, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ELAN
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Indiana
DOCKET #: 20-CV-01460
JUDGE: Hon. Sarah Evans Barker
DATE FILED: 05/20/2020
CLASS PERIOD START: 01/10/2020
CLASS PERIOD END: 05/06/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
  2. Katz Korin Cunningham PC
  3. The Law Offices of Frank R. Cruz
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available