Investigation announced for Investors in Cryoport, Inc. (NASDAQ: CYRX) over potential Wrongdoing

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

Investors who purchased shares of Cryoport, Inc. (NASDAQ: CYRX) 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 Cryoport, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Brentwood, TN based Cryoport, Inc. provides temperature-controlled supply chain solutions in biopharma/pharma, animal health, and human reproductive medicine markets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Cryoport, Inc. reported that its annual Total Revenue rose from $222.60 million in 2021 to $237.27 million in 2022, and that its Net Loss declined from $275.52 million in 2021 to $37.33 million in 2022.

On July 12, 2023, after market hours, Cryoport, Inc. announced preliminary second-quarter financial results, and disclosed that its second quarter 2023 total revenue "is expected to be in the range of $56.5 to $57.5 million, representing a decrease of 11%, at the midpoint, compared to the second quarter of 2022." The Company attributed the shortfall to "a global slowdown in capital equipment investment" as well as "a number of clinical trial start delays and several key customers falling short of their forecasts for the revenue ramp of certain cell and gene therapies."

Shares of Cryoport, Inc. (NASDAQ: CYRX) declined from $29.98 per share on October 27, 2022, to as low as $14.00 per share on August 03, 2023.

Those who purchased shares of Cryoport, Inc. (NASDAQ: CYRX) 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.