Investor Alert: Kaplan Fox Investigates Eli Lilly For Potential Securities Fraud
NEW YORK, Oct. 22, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors who purchased shares of Eli Lilly and Company ("Eli Lilly" or the "Company") (NYSE: LLY).
On October 13, 2020, the Company announced that it was pausing enrollment of its antibody-based drug trial for the treatment of COVID-19 over safety concerns. The study is testing whether adding Lilly's antibody-based drug, LY-CoV555, to Gilead Science Inc.'s remdesivir would benefit people hospitalized with COVID-19. Separately, the National Institute of Allergy and Infectious Diseases also recommended a pause on the trial. Additionally, according to a Reuters article published on October 13, 2020, U.S. Food and Drug Administration ("FDA") inspectors "uncovered serious quality control problems" at the Company's plant ramping up to manufacture COVID-19 drugs.
Following this news, Eli Lilly's stock price fell $4.41 per share, or 2.85%, to close at $150.08 per share on October 13, 2020.
Then, on October 21, 2020, Bloomberg published an article reporting that FDA inspectors found continuing quality-control problems at Eli Lilly's facility being used to manufacture COVID-19 drugs. Reportedly, an October 2, 2020 memo discussing the FDA inspection of the facility in July and August states that the findings "support a major failure of quality assurance."
If you purchased Eli Lilly and Company securities and would like to discuss our investigation, please contact us by emailing [email protected] or by calling 212-329-8571.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about your rights or interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 329-8571
(212) 687-1980
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
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