RADNOR, Pa., Dec. 11 /PRNewswire/ --The following statement was issued today by the law firm of Barroway Topaz Kessler Meltzer & Check, LLP:
Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of the securities of Elan Corporation, plc (NYSE: ELN) ("Elan" or the "Company") between May 21, 2007 and October 21, 2008, inclusive (the "Class Period").
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Barroway Topaz Kessler Meltzer & Check, LLP (Darren J. Check, Esq. or David M. Promisloff, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com.
The Complaint charges Elan and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Elan is a neuroscience-based biotechnology company. The Complaint alleges that during the Class Period the Company made materially false and misleading statements about bapineuzumab, a drug Elan was developing in association with Wyeth for the treatment of Alzheimer's disease. Specifically, Defendants failed to disclose unfavorable results from a Phase II clinical study of bapineuzumab that Elan and Wyeth conducted. When those results were disclosed on July 29, 2008, the price of Elan's shares plunged from $33.75 to $19.63 on extremely high volume. On October 22, 2008, it was reported that some European regulators had asked that trials of bapineuzumab be delayed following the mixed results of the mid-stage U.S. trials. On this news, the price of Elan's shares fell from $9.06 pe
|SOURCE Barroway Topaz Kessler Meltzer & Check, LLP|
Copyright©2008 PR Newswire.
All rights reserved