Lawsuit filed against Elanco Animal Health over alleged securities fraud claims

A class action lawsuit has been filed against Elanco Animal Health and some of its executives for alleged violations of federal securities laws. Investors have until December 6, 2024, to seek lead plaintiff status in the case, which is in the U.S. District Court of Maryland. The lawsuit claims that Elanco misled investors regarding the approval status of two key animal treatments, Zenrelia and Credelio Quattro. After the company announced that the FDA would not approve these drugs as expected, Elanco's stock price dropped over 21%. The law firm Bleichmar Fonti & Auld LLP is representing the investors and is investigating whether Elanco made false statements about the FDA's review process. Investors can submit their information to the firm for potential legal action.