Recent Securities Litigations
CYTODYN INC (US TRADING VENUE: CYDY)
Beginning on March 5, 2021 CytoDyn began issuing press releases that described the results of Phase IIb/III testing data. In these releases, CytoDyn disclosed that the primary endpoint for the Leronlimab study was not statistically significant. Upon the opening of trading, CytoDyn shares dropped over 28% on March 8, 2021. On March 9, 2021, CytoDyn shares dropped an additional 19%. The Complaint alleges that through the use of Company press releases and other information released by CytoDyn’s partners, CytoDyn has released, or caused to be released, materially false and misleading statements in violation of the federal securities laws.