Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Elanco, Edwards, and UPS and Encourages Investors to Contact the Firm
NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of against Elanco Animal Health Incorporated (NYSE: ELAN), Edwards Lifesciences Corp (NYSE: EW), and United Parcel Service, Inc. (NYSE: UPS). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Elanco Animal Health Incorporated (NYSE: ELAN)
Class Period: November 7, 2023 - June 26, 2024
Lead Plaintiff Deadline: December 6, 2024
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Zenrelia was less safe than the Company had led investors to believe; (2) Elanco was unlikely to meet its own previously issued timeline for the U.S. approval and commercial launch of both Zenrelia and Credelio Quattro; (3) accordingly, the Company's business and/or financial prospects were overstated; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.
For more information on the Elanco class action go to: https://bespc.com/cases/ELAN
Edwards Lifesciences Corp (NYSE: EW)
Class Period: February 6, 2024 - July 24, 2024
Lead Plaintiff Deadline: December 13, 2024
According to the complaint, defendants provided investors with material information concerning Edwards’ expected revenue for the fiscal year 2024, particularly as it related to the growth of the Company’s core product, Transcatheter Aortic Valve Replacement (“TAVR”). Defendants’ statements included, among other things, strong commitment to the TAVR platform, confidence in the Company’s ability to capitalize on a subset of untreated patients through scaling of its various patient activation activities and continued claims of significant demand in allegedly lower-penetrated markets.
On July 24, 2024, Edwards unveiled below-expectation financial results for the second quarter of fiscal 2024 and, in particular, slashed its revenue guidance for the TAVR platform for the full fiscal year 2024. The Company attributed the TAVR setback on the “continued growth and expansion of structural heart therapies … [which] put pressure on hospital workflows.” Investors understood this to mean that developments in new procedures, including defendant’s own Transcatheter Mitral and Tricuspid Therapies (“TMTT”), put significant strain on hospital structural heart teams such that they were underutilizing TAVR, despite the Company’s continued claim of a significantly undertreated patient population. Moreover, the Company announced three acquisitions during the second quarter designed to embolden their treatments alternative to TAVR, suggesting further that the company was aware of the potential for the TAVR platform’s decelerated growth.
Investors and analysts reacted immediately to Edwards’ revelations. The price of Edwards’ common stock declined dramatically. From a closing market price of $86.95 per share on July 24, 2024, Edwards’ stock price fell to $59.70 per share on July 25, 2024, a decline of about 31.34% in the span of just a single day.
For more information on the Edwards class action go to: https://bespc.com/cases/EW
United Parcel Service, Inc. (NYSE:UPS)
Class Period: January 30, 2024 - July 22, 2024
Lead Plaintiff Deadline: December 9, 2024
The Complaint alleges that Defendants provided investors with material information concerning UPS' expected revenue and adjusted operating margin for the fiscal year 2024. Specifically, the Complaint alleges that Defendants' statements included, among other things, confidence in the Company's volume growth, price discipline, cost execution, and its overall ability to handle volume variabilities. Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of UPS' growth; notably, that it was not truly equipped to handle a surge in volume in lower-profit services without seeing a significant decline in their operating margins. The Complaint continues to allege that such statements absent these material facts caused shareholders to purchase UPS' securities at artificially inflated prices.
For more information on the UPS class action go to: https://bespc.com/cases/UPS
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
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