Elan (ELN) Call Option Purchasers File Securities Fraud Class Action Lawsuit Complaint Against Elan Corporation Over Phase 2 Clinical Study of Bapineuzumab, A Drug Elan Was Allegedly Developing in Association with Wyeth For The Treatment of Alzheimer’s Disease.
A securities fraud class action lawsuit was filed against Elan Corporation, plc. (“Elan), a neuroscience-based technology company, and certain of Elan’s officers and directors and Pfizer, Inc., a pharmaceutical company, as successor-in-interest to Wyeth, Inc. (“Wyeth”) (collectivelly “Defendants”) in the United States District Court for the Southern District of New York, alleging that defendants, in violation of federal securities fraud laws, made materially false and misleading statements about bapineuzumab, a drug Elan was developing in association with Wyeth for the treatment of Alzheimer’s disease and about alleged unfavorable results from a Phase 2 clinical study of bapineuzumab, according to class action lawsuit news reports.
The Elan and Pfizer securities fraud class action lawsuit is reportedly brought on behalf of all purchasers of Elan (ELN) call options during the period between June 17, 2008 and July 29, 2008.
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