LOS ANGELES, May 11, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Elanco Animal Health Incorporated (NYSE: ELAN) investors that the firm has initiated an investigation into possible securities fraud.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com.
On May 7, 2020, Elanco announced its financial and operating results for the first quarter of 2020, reporting revenue of $657.7 million and earnings per share of -$0.12, below investors' expectations. Elanco’s President and Chief Executive Officer attributed the disappointing results to "distributor performance," among other things, and stated that Elanco planned "to tighten [its] approach across many facets of [its] distributor relationships."
On this news, the Company’s share price fell $3.05 per share, or over 13%, to close at $19.88 per share on May 7, 2020, thereby injuring investors.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
BH_BH_BH_BH_BH_BH_BH_BH
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