Scott+Scott LLP Files Class Action Lawsuit Against Elan Corporation, plc On Behalf...

Scott+Scott LLP Files Class Action Lawsuit Against Elan Corporation, plc On
Behalf of Investors -- ELN

NEW YORK, Nov. 13, 2008 (GLOBE NEWSWIRE) -- On November 13, 2008, Scott+Scott
LLP filed a class action lawsuit against Elan Corporation, plc ("Elan'' or the
"Company'') (NYSE:ELN) and certain officers and directors of the Company in the
U.S. District Court for the Southern District of New York. The action is on
behalf of those purchasing American Depository Receipts ("ADRs") of Elan during
the period beginning June 17, 2008 through July 29, 2008, inclusive (the "Class
Period''), for violations of the Securities Exchange Act of 1934.

If you purchased ADRs of Elan during the Class Period and wish to serve as a
lead plaintiff in the action, you must move the Court no later than December 14,
2008. Any member of the investor class may move the Court to serve as lead
plaintiff through counsel of its choice, or may choose to do nothing and remain
an absent class member. If you wish to discuss this action or have questions
concerning this notice or your rights, please contact Scott+Scott
(scottlaw@scott-scott.com, (800) 404-7770, (860) 537-5537 or visit the
Scott+Scott website, http://www.scott-scott.com) for more information. There is
no cost or fee to you.

According to the complaint, during the Class Period, Elan issued materially
false and misleading statements regarding the Phase II clinical results of the
Company's investigational treatment for Alzheimer's disease, bapineuzumab. As a
result of defendants' false statements and omissions during the Class Period,
Elan ADRs traded at artificially inflated prices.

Specifically, Elan failed to disclose unfavorable results from the bapineuzumab
trial in a June 17, 2008 press release regarding the study, misrepresenting the
safety and efficacy of the drug to investors and analysts. As a result of the
press release, Elan ADRs surged upward nearly 11% in one day. However, when the
detailed Phase II results were finally disclosed, the Company's prior
representations on the safety and efficacy of bapineuzumab were shown to be
overblown. On that day, the price of Elan's ADRs plunged from $33.75 to $19.63.

Scott+Scott has significant experience in prosecuting major securities,
antitrust and employee retirement plan actions throughout the United States. The
firm represents pension funds, foundations, individuals and other entities
worldwide.

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CONTACT: Scott+Scott, LLP
(800) 404-7770
(860) 537-5537
scottlaw@scott-scott.com