Curated News
By: NewsRamp Editorial Staff
November 15, 2024

Lawsuit Filed Against Elanco Animal Health Inc. for Alleged False Statements

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Source News Release

TLDR

  • Investors who suffered substantial losses from Elanco's false and misleading statements can submit losses now for potential recovery.
  • Elanco and specific executives are accused of making false and misleading statements regarding Zenrelia's safety, which hindered product adoption.
  • The lawsuit against Elanco aims to hold the company accountable for minimizing potential safety risks associated with Zenrelia, protecting consumers and their pets.
  • The controversy surrounding Elanco's false statements and Zenrelia's safety risks highlights the need for transparency and accountability in the pharmaceutical industry.

Impact - Why it Matters

This news matters as it involves a federal lawsuit against a major animal health company, alleging false and misleading statements. Investors who suffered losses are urged to take action, and whistleblowers are encouraged to come forward to help in the investigation.

Summary

A federal lawsuit has been filed in the U.S. District Court of Maryland against Elanco Animal Health Inc. and specific executives, accusing them of making false and misleading statements. Hagens Berman urges Elanco Animal Health Incorporated (NYSE: ELAN) investors who suffered substantial losses to submit their losses now.

The complaint alleges that the company minimized potential safety risks associated with Zenrelia, an oral Janus kinase inhibitor, while exaggerating its prospects for a swift U.S. market launch. The controversy erupted when Elanco revealed that Zenrelia's label would include a boxed warning, highlighting safety issues identified during trials with unvaccinated dogs. Following the disclosure, Elanco's stock plummeted by over 20%. Law firm Hagens Berman is investigating the allegations and encourages whistleblowers to come forward.

Source Statement

This curated news summary relied on this press release disributed by NewMediaWire. Read the source press release here, Lawsuit Filed Against Elanco Animal Health Inc. for Alleged False Statements

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