Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CytoDyn, Inc.
NEW YORK, March 22, 2021 (GLOBE NEWSWIRE) – Please note that a press release published by Bernstein Liebhard LLP on March 19, 2021 under the same heading updated pricing information. The corrected version follows:
Bernstein Liebhard, a nationally recognized investor rights law firm, has announced that it has filed a class action lawsuit on behalf of investors who have bought or acquired the securities of CytoDyn, Inc. (“CytoDyn” or the “Company”) was) from March 27, 2020 to March 9, 2021 (the “Class Period”). The lawsuit in the US District Court for the Western District of Washington alleges violations of the Securities Exchange Act of 1934.
If you Purchased CytoDyn securities and / or wish to discuss your statutory rights and options Please visit the class action lawsuit against CytoDyn shareholders or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
On March 5, 2021, CytoDyn published a press release with an update on its product “Vyrologix (leronlimab-PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications”. The press release stated in part that “the Phase 3 study of leronlimab for the treatment of severe to critical COVID-19 patients will provide continued safety, substantial improvement in survival and faster hospital discharge for critically ill COVID patients showed. 19 patients. “While the press release allegedly announced positive results, industry observers and analysts were quick to label the company’s press release as misleading. For example, Seeking Alpha published an article by Paul Santos on March 8, 2021, entitled “CytoDyn: Parsing Failure”. The article alleged that CytoDyn’s “Leronlimab Phase 3 study in COVID-19 patients with severe to critical patients … failed to meet both its primary endpoint and all secondary endpoints with statistical significance” and the company as effective “buried” leads to his press release. Santos noted that “[a] A normal biotech company would have made this clear in both its PR titles and text bodies. However, Cytodyn did something else. “
In the news, CytoDyn’s stock price fell $ 1.70 per share, or 41.98%, over the next two trading sessions, closing at $ 2.35 per share on March 9, 2021.
The complaint, filed on March 17, 2021, alleges that defendants violated provisions of the Stock Exchange Act by making false and misleading statements about the use of Leronlimab to treat COVID-19.
If you want to serve as the lead plaintiff, you must transfer the court no later than May 17, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you Purchased CytoDyn securities and / or wish to discuss your statutory rights and options Please visit https://www.bernlieb.com/cases/cytodyninc-cydy-shareholder-class-action-lawsuit-fraud-stock-381/apply/ or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to oversee their assets and litigate on their behalf. Because of its litigation success with hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s “Hot List” thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP