Cytodyn Inc (CYDY)

[JPG77]

Federal judge finds CytoDyn 13D group did not comply with SEC rules

* A federal court judge found that a shareholder group trying to get five new members on the CytoDyn (OTCQB:CYDY) board violated SEC rules in that solicitations to shareholders weren't filed with the agency.
* The judge ordered that the group comply with federal securities laws and SEC rules.

In a news release, CytoDyn's board said the group was "caught red-handed" and has ignored transparency and mislead shareholders. "Shareholders should be highly concerned by this pattern of transgressions on the part of the Activist Group – which we believe underscores the Activist Group’s and its nominee’s lack of fitness to be entrusted with control of CytoDyn and our potentially lifesaving therapeutic drug candidate, leronlimab," the board added.

https://seekingalpha.com/news/3737147-federal-judge-finds-cytodyn-shareholder-group-did-not-comply-with-sec-rules?mail_subject=cydy-federal-judge-finds-cytodyn-shareholder-group-did-not-comply-with-sec-rules&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha