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Investigation for Investors in NASDAQ: AYTU shares over possible Wrongdoing at Aytu BioScience, Inc.

04-22-2020 09:59 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Aytu BioScience, Inc. (NASDAQ: AYTU) shares over potential wrongdoing.

An investigation on behalf of investors in Aytu BioScience, Inc. (NASDAQ: AYTU) shares over potential wrongdoing.

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Aytu BioScience, Inc.

Investors who purchased shares of Aytu BioScience, Inc. (NASDAQ: AYTU) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Aytu BioScience directors breached their fiduciary duties and caused damage to the company and its shareholders.

Englewood, CO based Aytu BioScience, Inc., a specialty pharmaceutical company, focuses on developing and commercializing novel products in the field of hypogonadism (low testosterone), cough and upper respiratory symptoms, insomnia, and male infertility in the United States and internationally. Aytu BioScience, Inc. reported that its Total Revenue rose from $3.22 million for the 12 months period that ended on June 30, 2017 to $3.66 million for the 12 months period that ended on June 30, 2018 and that its Net Loss declined from $22.5 million to $10.18 million over those respective time periods.

On March 10, 2020, Aytu BioScience, Inc reported that it reached a license agreement for the exclusive distribution of a point-of-care rapid test for certain COVID-19 antibodies in the U.S. for three years, with three year auto-renewals thereafter.

Then, on April 17, 2020, pre-market, a report was issued entitled "Unapproved Chinese coronavirus antibody tests being used in at least 2 states." Citing health officials and U.S. Food and Drug Administration ("FDA") filings, the article reported that Aytu BioScience, Inc has been distributing unreliable COVID-19 tests from unapproved Chinese manufacturers, which were shipped to the U.S. after the FDA relaxed its guidelines for tests in mid-March.
On this news, Aytu BioScience, Inc's stock price fell $0.12 per share, or 8%, to close at $1.38 per share on April 17, 2020.

Those who purchased shares of Aytu BioScience, Inc. (NASDAQ: AYTU) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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