San Diego, CA -- (SBWIRE) -- 04/27/2021 -- An investor, who purchased shares of CytoDyn Inc. (OTC: CYDY), filed a lawsuit against CytoDyn Inc over alleged violations of Federal Securities Laws.

Investors who purchased shares of CytoDyn Inc. (OTC: CYDY) have certain options and for certain investors are short and strict deadlines running. Deadline: May 17, 2021. OTC: CYDY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On March 5, 2021, CytoDyn Inc. provided an update on its product "Vyrologix (leronlimab-PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications." CytoDyn Inc. stated, 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."

Then on March 8, 2021, an article was published entitled "CytoDyn: Parsing Failure." The article asserted that CytoDyn Inc's "leronlimab Phase 3 trial on COVID-19 severe-to-critical patients failed . . . to meet both its primary endpoint and all secondary endpoints with any statistical significance" and described CytoDyn as having effectively "buried" the results in its press release. The article noted that "[a] normal biotech company would have stated this clearly, both in its PR titles and in their text bodies. Cytodyn, however, did something else."

The plaintiff claims that between March 27, 2020 and March 9, 2021, the defendants made materially false and/or misleading statements, and failed to disclose that while CytoDyn's stock price was sufficiently pumped with the COVID-19 cure hype, long-term shareholders, including CEO Nader Z. Pourhassan and CFO Michael Mulholland, dumped millions of shares, that CytoDyn engaged in a wrongful scheme with its lender, Iliad Research and Trading L.P. ("Iliad"), and its principal John Fife ("Fife"), whereby Iliad and other Fife entities operated as an unregistered securities dealer for CytoDyn, and that Iliad obtained a convertible promissory note from CytoDyn and converted the note into newly issued shares of CytoDyn and sold those shares into the public market at a profit, in violation of the dealer registration requirements of the federal securities laws.

Those who purchased shares of CytoDyn Inc. (OTC: CYDY) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.