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Lawsuit filed for Investors in shares of Elanco Animal Health Incorporated (NYSE: ELAN)

05-27-2020 11:47 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Elanco Animal Health Incorporated (NYSE: ELAN) shares.

A lawsuit was filed on behalf of investors in Elanco Animal Health Incorporated (NYSE: ELAN) shares.

An investor, who purchased shares of Elanco Animal Health Incorporated (NYSE: ELAN), filed a lawsuit over alleged Securities Laws Violations by Elanco Animal Health Incorporated.

Investors who purchased shares of Elanco Animal Health Incorporated (NYSE: ELAN) have certain options and for certain investors are short and strict deadlines running. Deadline: July 20, 2020. NYSE: ELAN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Greenfiled, IN based Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for companion and food animals. On May 7, 2020, Elanco Animal Health Incorporated reported its financial and operating results for the first quarter of 2020. For the quarter, Elanco Animal Health Incorporated reported GAAP earnings per share of -$0.12, missing consensus estimates by $0.18, and revenue of $657.7 million, missing consensus estimates by $62.49 million. Explaining the Company's disappointing results, Elanco Animal Health Incorporated's President and Chief Executive Officer cited, among other factors, "distributor performance" and stated that Elanco Animal Health Incorporated intended "to tighten our approach across many facets of our distributor relationships."

Shares of Elanco Animal Health Incorporated (NYSE: ELAN) closed on May 13, 2020 at $19.29 per share.

The plaintiff claims that between January 10, 2020 and May 6, 2020, the Defendants failed to disclose to investors that, after consolidating its distributors from eight to four, the Company increased the amount of inventory, including companion animal products, held by each distributor, that Elanco's distributors were not experiencing sufficient demand to sell through the inventory, that, as a result, the Company's revenue was reasonably likely to decline, that, as a result of the foregoing, Elanco would reduce its channel inventory with respect to companion animal products, and 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.

Those who purchased shares of Elanco Animal Health Incorporated (NYSE: ELAN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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