ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Eli Lilly and Company and Encourages Investors with Losses of $100,000 to Contact the Firm
Los Angeles, California--(Newsfile Corp. - October 16, 2020) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Eli Lilly and Company ("Eli Lilly" or "the Company") (NYSE: LLY) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On October 13, 2020, the National Institute of Allergy and Infectious Diseases (NIAID) recommended a pause on the trial of adding Eli Lilly's antibody-based drug, LY-CoV555, to remdesivir for the treatment of COVID-19. The same day, Reuters reported that FDA inspectors "uncovered serious quality control problems" at the Company's plant that will manufacture COVID-19 drugs. The article continued, "Following 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." Based on this news, shares of Eli Lilly fell in intraday trading.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66185