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Wednesday, July 22, 2020 12:27:51 PM
CytoDyn Board Chairman Hit Plaintiff With Threats, Attorney Says
July 21, 2020, 6:32 PM
Plaintiff in compensation suit approached by executive: letter
Told they’d be ‘blamed,’ sued if NASDAQ listing compromised
Attorneys leading a $125 million excessive pay lawsuit against the board of drugmaker CytoDyn Inc. accused its chairman, Scott A. Kelly, of using litigation threats to try to intimidate the plaintiffs into dropping their claims in Delaware Chancery Court.
“Kelly claimed that this lawsuit is an impediment to the company’s attempt to up-list to NASDAQ,” and that if it’s not “dropped,” and the up-listing bid fails, CytoDyn “will publicly ‘blame’ plaintiffs” and sue them, Mark Richardson of Labaton Sucharow LLP wrote in a letter to the judge docketed Tuesday.
Kelly made those statements outside the presence of counsel after...
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