openPR Logo
Press release

Lawsuit filed for Investors in shares of CytoDyn Inc. (OTC: CYDY)

04-19-2021 11:17 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in CytoDyn Inc. (OTC: CYDY) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in CytoDyn Inc. (OTC: CYDY) shares over alleged securities laws violations.

An investor, who purchased shares of CytoDyn Inc. (OTC: CYDY), filed a lawsuit over alleged violations of Federal Securities Laws by CytoDyn Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of CytoDyn Inc. (OTC: CYDY) have certain options and for certain investors are short and strict deadlines running. Deadline: May 17, 2021. OTC: CYDY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On March 5, 2021, CytoDyn Inc. provided an update on its product "Vyrologix (leronlimab-PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications." CytoDyn Inc. stated, in part, that "the Phase 3 trial of leronlimab for the treatment of severe-to-critical patients with COVID-19 demonstrated continued safety, substantial improvement in the survival rate, and faster hospital discharge in critically ill COVID-19 patients."

Then on March 8, 2021, an article was published entitled "CytoDyn: Parsing Failure." The article asserted that CytoDyn Inc's "leronlimab Phase 3 trial on COVID-19 severe-to-critical patients failed . . . to meet both its primary endpoint and all secondary endpoints with any statistical significance" and described CytoDyn as having effectively "buried" the results in its press release. The article noted that "[a] normal biotech company would have stated this clearly, both in its PR titles and in their text bodies. Cytodyn, however, did something else."

Shares of CytoDyn Inc. (OTC: CYDY) declined from $7.40 per share on February 2, 2021, to as low as $2.00 per share on March 11, 2021.

The plaintiff claims that between March 27, 2020 and March 9, 2021, the defendants made materially false and/or misleading statements, and failed to disclose that while CytoDyn's stock price was sufficiently pumped with the COVID-19 cure hype, long-term shareholders, including CEO Nader Z. Pourhassan and CFO Michael Mulholland, dumped millions of shares, that CytoDyn engaged in a wrongful scheme with its lender, Iliad Research and Trading L.P. ("Iliad"), and its principal John Fife ("Fife"), whereby Iliad and other Fife entities operated as an unregistered securities dealer for CytoDyn, and that Iliad obtained a convertible promissory note from CytoDyn and converted the note into newly issued shares of CytoDyn and sold those shares into the public market at a profit, in violation of the dealer registration requirements of the federal securities laws.

Those who purchased shares of CytoDyn Inc. (OTC: CYDY) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit filed for Investors in shares of CytoDyn Inc. (OTC: CYDY) here

News-ID: 2272343 • Views: 556

More Releases from Shareholders Foundation

Investigation announced for NASDAQ: IMVT investors over possible Wrongdoing at I …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Immunovant, Inc.. Investors who are current long term investors in Immunovant, Inc. (NASDAQ: IMVT) shares, 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 for current long term investors in NASDAQ: IMVT stocks follows a lawsuit filed against Immunovant, Inc. over
Investigation announced for Investors in AST SpaceMobile, Inc. (NASDAQ: ASTS) sh …
An investigation was announced concerning potential securities laws violations by AST SpaceMobile, Inc. in connection with certain financial statements. Investors who purchased shares of AST SpaceMobile, Inc. (NASDAQ: ASTS), 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 focuses on possible claims on behalf of purchasers of the securities of AST SpaceMobile, Inc. (NASDAQ: ASTS) concerning whether a
Deadline on May 17th coming up in Lawsuit for Investors in Neptune Wellness Solu …
A deadline is coming up on May 17, 2021 in the lawsuit filed for certain investors of Neptune Wellness Solutions Inc (NASDAQ: NEPT) over alleged securities laws violations by Neptune Wellness Solutions. Investors who purchased shares of Neptune Wellness Solutions Inc (NASDAQ: NEPT) have certain options and there are strict and short deadlines running. Deadline: May 17, 2021. NASDAQ: NEPT stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858)
Investigation for NASDAQ: FREQ Investors over possible Wrongdoing at Frequency T …
An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Frequency Therapeutics, Inc. Investors who purchased shares of Frequency Therapeutics, Inc. (NASDAQ: FREQ) 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 Frequency Therapeutics, Inc. (directors breached their fiduciary duties and caused damage to the company and its shareholders. Woburn,

All 5 Releases


More Releases for CytoDyn

Global HIV Drugs Market Analysis of Emerging Key Vendors Such as Gilead Sciences …
InsightAce Analytic Pvt. Ltd. announces the release of the market assessment report on “Global HIV Drugs Market Assessment – Revenue (US$ Mn) Forecast Till 2028” Request for Sample Pages: https://www.insightaceanalytic.com/report-details/global-hiv-drugs-market-assessment/ According to the latest research by InsightAce Analytic, the global HIV drugs market was valued at US$ XX Mn in 2020 and it is expected to reach US$ XX million in 2028, at a promising CAGR of XX% from 2020 to
Global Bone Marrow Transplant Rejection Treatment Market to 2026 - Industry Pers …
The Bone Marrow Transplant Rejection Treatment Market report is intended to function as a supportive means to assess the Bone Marrow Transplant Rejection Treatment market ( https://bit.ly/3dL6kXM ) along with the complete analysis and clear-cut statistics related to this market. In other words, the report would provide an up-to-date study of the market in terms of its latest trends, present scenario, and the overall market situation. Further, it will also
Glass Bone Marrow Transplant Rejection Treatment Market Emerging Trends & Growin …
The following research report is a compilation of high-end data that has been researched thoroughly to highlight the various trends prevailing across the Bone Marrow Transplant Rejection market. This study is titled “Global Bone Marrow Transplant Rejection Treatment Market Insights, Forecast to 2025”, which carefully examines several vital factors such as market share, market revenue, market dynamics and competitive scenario active in the target market for the period between 2019
Bone Marrow Transplant Rejection Treatment Market Share, Size, Revenue, Gross Ma …
In 2018, the global Bone Marrow Transplant Rejection Treatment market size was million US$ and is forecast to million US in 2025, growing at a CAGR of from 2018. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Bone Marrow Transplant Rejection Treatment. This report focuses on the key data information of Bone Marrow Transplant
Global and United States Bone Marrow Transplant Rejection Treatment Market Resea …
Summary Market Segment as follows: By Type Azathioprine Adrenocorticotropic Hormone Cyclophosphamide Cyclosporine A Others By Application Hospital Clinic Others By Company Bellicum Pharmaceuticals, Inc. Bio-Cancer Treatment International Limited Biogen Inc Boryung Pharmaceutical Co., Ltd. Bristol-Myers Squibb Company Cantex Pharmaceuticals, Inc. Capricor Therapeutics, Inc. Cell Source, Inc. Cell2B S.A. CellECT Bio, Inc. Cleveland BioLabs, Inc. Compugen Ltd. Cynata Therapeutics Limited Cytodyn Inc. Dompe Farmaceutici S.p.A. Dr. Falk Pharma GmbH Escape Therapeutics, Inc. F. Hoffmann-La Roche Ltd. Fate Therapeutics, Inc. Generon (Shanghai) Corporation Ltd. Gilead Sciences, Inc. GlaxoSmithKline Plc Idera Pharmaceuticals, Inc. The main contents of the report including: Section 1: Product definition, type and application, global and United States
Global C-C Chemokine Receptor Type 5 Market Analysis Revealing Key Drivers & Gro …
Market Research Hub (MRH) has recently broadcasted a new study to its broad research portfolio, which is titled as “Global C-C Chemokine Receptor Type 5 Market Research Report 2018” provides an in-depth analysis of the C-C Chemokine Receptor Type 5 with the forecast of market size and growth. The analysis includes addressable market, market by volume, market share by business type and by segment (external and in-house).The research study examines