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Elan Corporation PLC (NYSE: ELN) Investor Securities Class Action Lawsuit 10/14/2008

  • If you purchased American Depository Receipts (ADR) of Elan Corporation PLC (NYSE: ELN), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Elan Corporation plc
Security
NYSE: ELN

Case Name
Elan Corporation PLC Shareholder Class Action Lawsuit 10/14/2008
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

August 10, 2011 - The court finds there is no basis to permit plaintiff to amend the complaint and the case remains dismissed with prejudice.
June 24, 2011 - The court granted defendants' motion to dismiss and granted 30 days for plaintiff to file for a motion for leave to file an amended complaint.

April 6, 2011 - Defendants filed a motion to dismiss.

March 25, 2011 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased American Depository Receipts (ADR) of Elan Corporation PLC (NYSE: ELN) between May 21, 2007 and October 21, 2008. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between May 21, 2007 and October 21, 2008.

March 18, 2011 - The court granted in part and denied in part defendants' motion to dismiss.

November 19, 2010 - Defendants filed a new motion to dismiss.

October 19, 2010 - The court removed the lead plaintiff and denied defendants' motion to dismiss without prejudice.

December 11, 2009 - Defendants filed a motion to dismiss.

August 17, 2009 - The lead plaintiff filed an amended consolidated complaint.

May 11, 2009 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

December 15, 2008 - Lead plaintiff motions were filed.

October 27, 2008 - Another investor filed a complaint.

October 14, 2008 - An investor in shares of Elan Corporation PLC (NYSE: ELN) filed a lawsuit in the U.S. District Court for the Southern District of New York on behalf of purchasers of Elan Corporation PLC (NYSE: ELN) publicly traded stock or American Depository Receipts during the period between June 17, 2008 and July 29, 2008 over alleged violations of the Securities Exchange Act of 1934 by issuing materially false and misleading statements about ‘bapineuzumab’.

Specifically, so the complaint, defendants failed to disclose unfavorable results from a Phase II clinical study of bapineuzumab that the defendants and the other company conducted.