CYTODYN SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit against CytoDyn, Inc. – CYDY
NEW ORLEANS–(BUSINESS WIRE) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors they have up May 17, 2021 Lead plaintiffs in a class action lawsuit against CytoDyn, Inc. (OTC: CYDY) if they purchased the Company’s securities between March 27, 2020 and March 9, 2021, inclusive (the “Collection Period”). This lawsuit is pending in the United States District Court for the Western District of Washington.
What you can do
If you have purchased CytoDyn securities and would like to discuss your statutory rights and the possible effects of this case on you and your right to reimbursement of your economic loss, you can contact KSF’s managing partner, Lewis Kahn, free of charge at no obligation or cost 1-877-515-1850 or email (firstname.lastname@example.org) or visit https://www.ksfcounsel.com/cases/otc-cydy/ to learn more. If you want to appear as the lead plaintiff in this class action lawsuit, you must file a motion with the court May 17, 2021.
About the lawsuit
CytoDyn and some of its executives are accused of failing to disclose material information during the classroom, in violation of federal securities laws.
On March 5, 2021, the company issued a press release promoting the positive study results of its product Leronlimab. In part it says: “The phase 3 study with leronlimab for the treatment of severe to critical patients with COVID-19 has proven safety, significant improvement in survival rates and faster discharge from the hospital in critically ill COVID-19 patients”; However, as was later pointed out by industry analysts in the days that followed, the company also announced that “[a]In all patients with mITT, the primary endpoint (all-cause mortality on day 28) was not statistically significant. ”
In this news, the shares of CytoDyn collapsed.
The case is Lewis v CytoDyn, Inc., No. 3: 21-cv-05190.
About Kahn Swick & Foti, LLC
KSF, partnered with former Louisiana Attorney General Charles C. Foti Jr., is one of the leading securities litigation law firms in the country. KSF assists a wide variety of clients – including public institutional investors, hedge funds, money managers and private investors – in their search for investment losses due to corporate fraud and misconduct by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you can visit www.ksfcounsel.com.