Brower Piven Encourages Investors Who Purchased Tens of Thousands of Elan Corporation, plc American Depositary Receipts or More

  Brower Piven Encourages Investors Who Purchased Tens of Thousands of Elan
  Corporation, plc American Depositary Receipts or More to Inquire About the
  Lead Plaintiff Position in Securities Fraud Class Action Lawsuit

Lead Plaintiff Deadline is February 19, 2013

Business Wire

STEVENSON, Md. -- January 18, 2013

Brower Piven, A Professional Corporation announces that a class action lawsuit
has been commenced in the United States District Court for the Southern
District of New York on behalf of all persons who purchased or otherwise
acquired American Depositary Receipts (“ADRs”) of Elan Corporation, plc
(“Elan” or the “Company”) (NYSE: ELN) or call options thereon, and/or sold put
options on Elan ADRs, during the period from July 21, 2008 through and
including 4:00 pm EDT on July 29, 2008, which was just before the announcement
about the disappointing clinical trial results for Elan’s Alzheimer’s drug,
bapineuzumab (“Class Period”).

If you bought Elan ADRs and/or call options thereon, or sold put options on
ADRs, during the Class Period, you may obtain additional information about
this lawsuit and your ability to become a lead plaintiff by contacting Brower
Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley
Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined
experience litigating securities and class action cases of over 60 years.

No class has yet been certified in the above action. Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply
to be appointed lead plaintiff no later than February 19, 2013 and be selected
by the Court. The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and how much of a
settlement to accept for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from investment in
the Company during the Class Period.

The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of S.A.C. Capital Advisors, L.P. and related parties
(“SAC”) having illegally traded in Elan ADRs and options while in possession
of  insider information about disappointing clinical trial results for
bapineuzumab. The complaint alleges that this negative information, which was
not available to the investing public, allowed SAC to avoid losses and obtain
gains of at least $220 million on its investments in Elan. According to the
Complaint, following the Company’s July 29, 2008 announcement about the
disappointing clinical trial results for bapineuzumab, the value of Elan
securities declined significantly, and those who purchased Elan ADRs or traded
options thereon as described above lost money while SAC profited
significantly.

If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice. You
need take no action at this time to be a member of the class.

Contact:

Brower Piven, A Professional Corporation
Stevenson, Maryland
Charles J. Piven, 410-415-6616
hoffman@browerpiven.com
 
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