Eli Lilly and Company (LLY)

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Eli Lilly and Company ("Eli Lilly" or "the Company") (NYSE: LLY).  The investigation concerns whether Eli Lilly and certain of its officers and/or directors have violated federal securities laws.

 

On October 13, 2020. the National Institute of Allergy and Infectious Diseases recommended a pause on the trial evaluating adding Eli Lilly’s antibody-based drug, LY-CoV555, to remdesivir for the treatment of COVID-19.  That same day, Reuters reported that U.S. Food and Drug Administration (“FDA”) inspectors “uncovered serious quality control problems” at the Company’s plant that will manufacture COVID-19 drugs.  The article reported that “[f]ollowing its November inspection, the FDA classified the problems as the most serious level of violation, resulting in an ‘Official Action Indicated’ (OAI) notice.”  Among other violations, the FDA “found that data on the plant’s various manufacturing processes had been deleted and not properly audited.”  On this news, Eli Lilly’s stock price fell $4.41 per share, or 2.85%, to close at $150.08 per share on October 13, 2020.

 

If you are aware of any facts relating to this investigation, or purchased Eli Lilly shares, you can assist this investigation by contacting the firm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

© 2020 Bronstein, Gewirtz & Grossman, LLC

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BG&G is not affiliated to any of these companies. All respective trademarks are owned by the respective companies.