NEW YORK, May 22, 2020 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Elanco Animal Health Incorporated ("Elanco" or "the Company") (NYSE: ELAN) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Elanco securities between January 10, 2020 and May 6, 2020, inclusive (the ''Class Period''). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/elan.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) after consolidating its distributors from eight to four, the Company 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) as a result, the Company'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) consequently, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/elan or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Elanco you have until July 20, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.