CYTODYN ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against CytoDyn, Inc. and Encourages Investors to Contact the Firm
NEW YORK–(BUSINESS WIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, announced that CytoDyn, Inc. March 2020 and March 9, 2021 inclusive (the “Class Period”). Investors have until May 17, 2021 to apply to the court for appointment as the lead plaintiff in the lawsuit.
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CytoDyn is focused on developing and commercializing a drug called “Leronlimab” that has long been promoted as a potential therapy for HIV patients. However, since the beginning of the global COVID-19 pandemic, CytoDyn has started aggressively promoting Leronlimab for the treatment of COVID-19.
From March 5, 2021, CytoDyn published press releases describing the results of the phase IIb / III test data. In these publications, CytoDyn announced that the primary endpoint for the Leronlimab study (all-cause mortality on day 28) was not statistically significant.
After closing at $ 4.05 on March 5, 2021, CytoDyn shares fell over 28% to $ 2.91 on March 8, 2021. On March 9, 2021, CytoDyn shares fell another 19% and closed $ 2.35.
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 have purchased CytoDyn common stock during the Class Period and have suffered a loss, are a long-term shareholder, have information, want to learn more about these claims, or have any questions about this announcement or your rights or interests related thereto, please contact Brandon Walker, Melissa Fortunato or Marion Passmore by email at firstname.lastname@example.org, by phone at (212) 355-4648, or by completing this contact form. There are no costs or obligations for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.