Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Elanco Animal Health Incorporated (“Elanco” or the “Company”) (NYSE: ELAN) to determine whether Elanco may have violated federal securities laws.
Investors who purchased, or otherwise acquired, securities of Elanco between January 10, 2020 and May 6, 2020, both dates inclusive (the “Class Period”), and suffered losses greater than $100,000 are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected]rm.com, to discuss the investigation or potential legal claims.
According to a class action lawsuit filed on behalf of Elanco investors, defendants, allegedly, made materially false and/or misleading statements and/or failed to disclose that: (1) after consolidating its distributors from eight to four, Elanco increased the amount of inventory, including companion animal products, held by each distributor; (2) Elanco’s distributors were not experiencing sufficient demand to sell through the inventory; (3) Elanco’s revenue was reasonably likely to decline; (4) as a result of the foregoing, Elanco would reduce its channel inventory with respect to companion animal products; and (5) as a result of the foregoing, defendants’ positive statements about Elanco’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you wish to serve as lead plaintiff, you must move the Court no later than July 20, 2020. To be a member of the class action, you do not need to take any action at this time; you may retain counsel of your choice; or you can take no action and remain an absent member of the class action. No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel, unless you retain an attorney. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.