CytoDyn Shareholder Group Comments on Delaware Court Decision
NEW YORK–(COMMERCIAL THREAD) – A group of long-standing shareholders (the âInvestor Groupâ) of CytoDyn Inc. (âCYDYâ or the âCompanyâ) who have appointed five highly experienced candidate directors to serve on the Board of Directors of the Company commented today on the decision by the Delaware Court of Chancellery to deny the Investor Group request to force the Company to allow shareholders to vote for the Investor Group nominees.
The Investor Group said: âWe firmly believe that the Court’s decision is fundamentally flawed and, as such, we are evaluating all possible alternatives. CYDY is very poorly managed – in addition to its utter failure to gain FDA approval for Leronlimab, it is currently under investigation by the SEC and DOJ, and recently issued a continuity statement, while that the management team is paying itself disproportionate salaries. This company is desperately need new leadership and new oversight to implement the changes we badly need.
Paul Rosenbaum, Jeffrey Beaty, Arthur Wilmes, Thomas Errico, MD, Bruce Patterson, MD, Peter Staats, MD, Melissa Yeager and CCTV Proxy Group, LLC (collectively the âParticipantsâ) have filed a definitive proxy statement and card. WHITE proxy accompanying it with the Securities and Exchange Commission (the âSECâ) to be used in connection with the solicitation of proxies from the shareholders of CytoDyn Inc. (the âCompanyâ). All shareholders are encouraged to read the definitive proxy statement and other proxy solicitation documents. The definitive proxy statement and accompanying proxy card are available free of charge on the SEC’s website at http://www.sec.gov/. In addition, Participants will provide copies of the proxy circular, free of charge, upon request. Requests for copies should be directed to participants’ agent, Okapi Partners LLC, by calling (844) 202-7428.
This document does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in any jurisdiction to any person. Further, the discussions and opinions contained in this press release and the documents it contains are for general information only and are not intended to provide investment advice. All statements contained in this press release which are not clearly historical in nature or which depend on future events are “forward-looking statements”, which are not guarantees of future performance or results, and the words “anticipate” , âBelieveâ, âexpectâ, âmayâ, âmightâ and similar expressions are generally intended to identify forward-looking statements. The forward-looking statements contained in this press release are based on current expectations, speak only as of the date of this press release, and involve risks that may cause actual results to differ materially. Certain information contained in this document is based on data obtained from sources believed to be reliable. No representation is made as to the accuracy or completeness of this data. The Participants disclaim any obligation to update the information contained in this document and reserve the right to modify their opinions expressed here at any time, if they deem it appropriate.