Group of CytoDyn Stockholders Comments on Delaware Court Decision
Business Wire (10/14/21)
A group of long-time stockholders of CytoDyn Inc. (CYDY) that has nominated five director candidates to serve on the company's board of directors has commented on the decision made by the Delaware Court of Chancery to deny the investor group's request to force the company to allow stockholders the opportunity to vote for the investor group's nominees. The investor group stated: "We believe strongly that the Court's ruling is fundamentally flawed and, as such, we are evaluating all possible alternatives. CYDY is very poorly managed—in addition to its complete failure to secure FDA approval for Leronlimab, it is currently being investigated by both the SEC and DOJ, and recently issued a going concern disclosure, all while the management team awards itself outsized pay packages. This company is in desperate need of new leadership and oversight to enact sorely needed change." Paul Rosenbaum, Jeffrey Beaty, Arthur Wilmes, Thomas Errico, M.D., Bruce Patterson, M.D., Peter Staats, M.D., Melissa Yeager, and CCTV Proxy Group LLC have filed a definitive proxy statement and accompanying white proxy card with the Securities and Exchange Commission to be used in connection with the solicitation of proxies from the stockholders of CytoDyn Inc. All stockholders are advised to read the definitive proxy statement and other documents related to the solicitation of proxies.
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