Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until May 17, 2021 to file lead plaintiff applications in securities class action lawsuits against CytoDyn, Inc. (OTC: CYDY), if they purchased the Company’s securities between March 27, 2020 through March 9, 2021, inclusive (the “Class Period”). These actions are pending in the United States District Court for the Western District of Washington.
What You May Do
If you purchased securities of CytoDyn and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you. If you wish to serve as a lead plaintiff in the class actions, you must petition the Courts by May 17, 2021.
About the Lawsuits
CytoDyn and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On March 5, 2021, the Company issued a press release purporting to tout the positive trial results of its product Leronlimab, stating in part, that “the Phase 3 trial of leronlimab for the treatment of severe-to-critical patients with COVID-19 demonstrated continued safety, substantial improvement in the survival rate, and faster hospital discharge in critically ill COVID-19 patients”; however, as subsequently highlighted by industry analysts in the following days, the Company also disclosed that “[a]mongst all patients in mITT, the primary endpoint (all-cause mortality at Day 28) was not statistically significant.” On this news, shares of CytoDyn plummeted.
The first-filed case is Lewis v. CytoDyn, Inc., No. 3:21-cv-05190
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
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