Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion In a Securities Class Action Lawsuit Against CytoDyn, Inc.
NEW YORK, March 22, 2021 / PRNewswire / – Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a motion by a lead plaintiff in a class action lawsuit filed on behalf of investors who bought or acquired CytoDyn’s securities. Inc. (“CytoDyn” or the “Company”) (OTCQB: CYDY) of March 27, 2020 by March 9, 2021 (the “Class Period”). The lawsuit has been filed The United States District Court for the Western District of Washington alleges violations of the Securities Exchange Act of 1934.
If you have purchased CytoDyn securities and / or would like to discuss your legal rights and options, please visit or contact CytoDyn Shareholder Class Action Lawsuit Matthew E. Guarnero toll free at (877) 779-1414 or [email protected]
On March 5, 2021CytoDyn 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 on March 8, 2021, Seeking Alpha published an article by Paul Santos entitled “CytoDyn: Parsing Failure”. The article alleged that Cytodyn’s “Leronlimab Phase 3 study in COVID-19 patients with severe to critical patients … did not meet both the primary endpoint and all secondary endpoints with statistical significance” and the company was effective “buried” described 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 share price fell $ 1.70 per share, or 41.98% for the next two trading sessions through $ 2.35 per share on March 9, 2021.
The complaint filed on March 17, 2021alleges that defendants violated provisions of the Stock Exchange Act by making false and misleading statements regarding the use of Leronlimab to treat COVID-19.
If you want to appear as the lead plaintiff, you must move the court at the latest 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 have purchased CytoDyn securities and / or would like to discuss your legal 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 [email protected]
Bernstein Liebhard LLP has been recovering since 1993 $ 3.5 billion for its customers. 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 lawyer responsible for this complaint in the State of Connecticut 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
SOURCE Bernstein Liebhard LLP