INVESTOR ALERT – CytoDyn, Inc. Investors with losses
PHILADELPHIA, March 17, 2021 (GLOBE NEWSWIRE) – Kehoe Law Firm, PC est investigate possible claims on securities on behalf of the investors of CytoDyn, Inc. (“CytoDyn” or the “Company”) (OTC: CYDY) to determine whether the Company has engaged in securities fraud or other illegal business practices.
On March 17, 2021, a class action lawsuit was filed against CytoDyn in United States District Court on behalf of CytoDyn investors who purchased or otherwise acquired common shares of CytoDyn between March 27, 2020 and March 9, 2021, both dates inclusive (the “Recourse Period”).
According to the class action lawsuit, CytoDyn has issued numerous press releases, organized conference calls, participated in interviews and aggressively used several third party investor relations and stock newsletters to introduce Leronlimab. as a potential treatment for COVID-19 and to inflate the CytoDyn share price as executives aggressively sold stocks.
The class action also alleges that in addition to exaggerating the viability of Leronlimab as a COVID-19 treatment, CytoDyn has also engaged in an illicit scheme with its lender, Iliad Research and Trading LP (“Iliad”), and its principal John Fife (“Fife”), through which Iliad and other Fife entities operated as an unregistered securities broker for CytoDyn. As part of Iliad’s loan of funds to CytoDyn, Iliad obtained a convertible promissory note from CytoDyn and converted the note into newly issued shares of CytoDyn and sold those shares on the public market for a profit, in violation of the requirements. registration of federal securities dealers. laws.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE COMMON SHARES OF THE COMPANY DURING THE ACTION PERIOD AND HAVE SUFFERED LOSSES GREATER THAN $ 100,000 ARE ENCOURAGED TO COMPLETE THE KEHOE LAW FIRM QUESTIONNAIRE ON THE CLASS ACTION IN SECURITIES OR CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], [email protected], AT DISCUSS THE INVESTIGATION OF CLASS ACTION IN SECURITIES OR POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, PC, with offices in New York and Philadelphia, is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors against securities fraud, breach of fiduciary duty and malpractice. Together, the Kehoe law firm partners have acted as senior advisor or co-senior advisor in cases that have raised more than $ 10 billion on behalf of institutional and individual investors.
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