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ЕЛН Message Board

  • banker6991 banker6991 Jan 28, 2013 1:29 PM Flag

    Class Action

    On July 1, 2008, I bot shares of ELN based on the CEO's comments on their Alzheimers drug. He apparently lied about the drugs success in trials and ELN dropped like a rock. Now I am seeing Class actions for trades between July 21 thru July 29, 2008. I'm wondering why July 1st thru July 20th trades are not included.

    Anyone know?

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    • Those lawsuits are pertaining to SAC and their prior knowledge that Bap didn't work. SAC sold their long positions in Eln & went short before the info was made public at the ICAD conference in 2008.

      • 1 Reply to goldmanthieves
      • Goldmanthieves: I appreciate your reply. I do not believe my question pertains to the the recent lawsuits regarding insider trading. It's about the lie Elan's CEO told on or about July 1, 2008 about the success of their Alzheimers drug performing well in trials. I bot maybe 400 shares immediately. A few weeks or maybe a month or so later, I'm googing Elan and a law firm with, I think, "@cssgr" in its email address was asking for people to sign up for their class-action suit regarding this lie. I sent in my application. Got a Confirmation number (now missplaced). Never heard a word. My concern is, since I signed on with one firm and maybe they didn't pursue the suit, was I eliminated from consideration by other firms who maybe did pursue it. I'd really like to find out if a CA was done that I did not hear about.