U.S. markets open in 1 hour 50 minutes

Investor Alert: Kaplan Fox Investigates Elanco Animal Health For Potential Securities Fraud

NEW YORK, June 10, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Elanco Animal Health Incorporated ("Elanco" or the "Company") (NYSE: ELAN).  A complaint has been filed on behalf of investors that purchased or acquired Elanco Animal securities between January 10, 2020 and May 6, 2020, inclusive (the "Class Period").

On May 7, 2020, Elanco announced its first quarter 2020 financial results, including a revenue decline and a $0.12 loss per share.  Elanco stated that revenue declined "9 percent due to a reduction of approximately $60 million in channel inventory driven by factors resulting from the COVID-19 pandemic."  During the conference call, Elanco's CEO stated that "at the start of 2020, we consolidated our U.S. companion animal distributors from eight to four" and that "he personally established a monthly review meeting with each of them."  Elanco expected "the four remaining distributors would need to increase their inventory levels to handle the larger volume going through their operations, offsetting the inventory draw-down in the eliminated distributors," but the consolidation was followed by destocking.

Following this news, Elanco's share price fell $3.05, or over 13%, to close at $19.88 per share on May 7, 2020.

If you are a member of the proposed Class, you may move the court July 20, 2020 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.

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 this Notice, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

Cision

View original content:http://www.prnewswire.com/news-releases/investor-alert-kaplan-fox-investigates-elanco-animal-health-for-potential-securities-fraud-301074049.html

SOURCE Kaplan Fox & Kilsheimer LLP