CYDY Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against CytoDyn, Inc. (CYDY); Lead Plaintiff Deadline is May 17, 2021

Philadelphia, Pennsylvania--(Newsfile Corp. - April 1, 2021) - Berger Montague is investigating potential securities fraud claims against CytoDyn, Inc. ("CytoDyn" or the "Company") on behalf of investors who purchased CytoDyn securities (OTCQB: CYDY) between March 27, 2020 and March 9, 2021 (the "Class Period").

If you purchased CytoDyn securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague's investigation, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Donnell Much at dmuch@bm.net or (215) 875-4667, or contact us at www.bergermontague.com/cytodyn.

A recently filed lawsuit alleges that throughout the Class Period, Defendants misled investors about its drug leronlimab. While touting the drug as a potential treatment for COVID-19, and thus causing CytoDyn's stock price to soar, executives aggressively sold their shares.

On March 5, 2021, CytoDyn issued a press release 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." Although the press release touted purportedly positive results, industry observers and analysts quickly characterized the Company's press release as misleading. For example, on March 8, 2021, Seeking Alpha published an article by Paul Santos that asserted that CytoDyn's leronlimab Phase 3 trial failed to meet both its primary and secondary endpoints with any statistical significance, and described the Company as having "buried" the results in its press release.

As the market digested this information, CytoDyn's stock price fell $1.70 per share, or 41.98%, over the following two trading sessions, closing at $2.35 per share on March 9, 2021.

If you purchased CytoDyn securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is May 17, 2021. You do not need to be a lead plaintiff to share in any potential Class recovery.

Whistleblowers: Persons with non-public information regarding CytoDyn are encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contacts

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net

Donnell Much, Associate
Berger Montague
(215) 875-4667
dmuch@bm.net

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79106