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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 20, 2020 to file lead plaintiff applications in a securities class action lawsuit against Elanco Animal Health Incorporated (NYSE: ELAN).
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.
If you purchased securities of Elanco and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or fill out the form on this page.
The case is Hunter v. Elanco Animal Health Incorporated, et al., No. 20-cv-01460.
Click here to read the first filed complaint.