irish alz co in court.

Elan did not reveal the poor results of their phase 2 trial of Bapi till after starting the phase 3. I always thought that was strange, but some investors lost a lot of money. No one can accuse Prana of raising money with the price too high.
Dr Selkoe, who headed the last list of alzheimers scientists, founded Athena, which then became Elan.

Brower Piven Files Class Action Suit Against Elan Corporation, plc and Pfizer, Inc., as Successor-in-Interest to Wyeth, Inc.
Press Release Source: Brower Piven, A Professional Corporation On Tuesday August 3, 2010, 5:18 pm

STEVENSON, MD--(Marketwire - 08/03/10) - Brower Piven, A Professional Corporation ("Brower Piven"), today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of all purchasers of Elan Corporation, plc's ("Elan") (NYSE:ELN - News) CALL OPTIONS during the period between June 17, 2008 and July 29, 2008 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Yelena Trepetin of Brower Piven at 410/415-6616, or via e-mail at [email protected]. If you are a member of this class, you can view a copy of the complaint as filed at www.browerpiven.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Elan and certain of its officers and directors and Pfizer, Inc., as successor-in-interest to Wyeth, Inc. ("Wyeth") with violations of the Securities Exchange Act of 1934. Elan is a neuroscience-based technology company. Wyeth is a wholly-owned operating subsidiary of Pfizer, Inc. ("Pfizer"). Pfizer is a pharmaceutical company.

The complaint alleges that during the Class Period, defendants made materially false and misleading statement about bapineuzumab, a drug Elan was developing in association with Wyeth for the treatment of Alzheimer's disease. Specifically, defendants failed to disclose unfavorable results from a Phase 2 clinical study of bapineuzumab that Elan and Wyeth conducted. When those results were finally disclosed, the price of Elan's American Depository Receipts ("ADRs") plunged from $33.75 to $19.63 in one day.

Plaintiff seeks to recover damages on behalf of all purchasers of Elan's call options during the Class Period (the "Class"). The plaintiff is represented by Brower Piven, whose attorneys have combined experience litigating securities and class action cases of over 40 years. The Brower Piven website (http://www.browerpiven.com/) has more information about the firm.
Contact:



CONTACT:
Yelena Trepetin
Brower Piven, A Professional Corporation
Stevenson, Maryland
410/415-6616
Email Contact

http://finance.yahoo.com/news/Brower-Piven-Files-Class-iw-3051492372.html?x=0&.v=1