SOURCE: Holzer Holzer & Fistel, LLC

November 25, 2008 18:18 ET

Holzer Holzer & Fistel, LLC Announces That It Has Filed a Shareholder Class Action Against Elan Corporation, plc (NYSE: ELN)

ATLANTA, GA--(Marketwire - November 25, 2008) - Holzer Holzer & Fistel, LLC announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of Elan Corporation, plc ("Elan" or the "Company") (NYSE: ELN) common stock or American Depository Receipts ("ADRs") during the period between May 1, 2008 and July 29, 2008 (the "Class Period").

The complaint charges Elan and certain of its current and former officers with violations of the Securities Exchange Act of 1934. During the Class Period, the Complaint alleges the defendants issued false and misleading public statements concerning the results of a Phase II study of the drug bapineuzumab. Specifically, the complaint alleges that defendants failed to disclose that the efficacy results of the study were not as strong as defendants characterized them to be and that some of the patients taking bapineuzumab suffered adverse events that might have been related to the drug.

If you are a purchaser of Elan common stock or ADRs during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made within 60 days from October 15, 2008. Any member of the purported 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. If you are an Elan investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm.