Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
NEW YORK, NY / ACCESSWIRE / August 8, 2022 / Attorney Advertising Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of CytoDyn Inc. (CYDY) ("CytoDyn" or the "Company") (OTCQB:CYDY). Investors who purchased CytoDyn securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/cydy.
The investigation concerns whether CytoDyn has violated federal securities laws.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
On August 6, 2022, CytoDyn disclosed in a filing with the U.S. Securities and Exchange Commission "that the Company's previously issued consolidated audited financial statements for (1) the fiscal year ended May 31, 2021, which were included in the Company's Annual Report on Form 10-K filed on July 30, 2021, and (2) the Company's previously issued unaudited interim consolidated financial statements as of and for the quarters ended November 30, 2020, February 28, 2021, August 31, 2021, November 30, 2021, and February 28, 2022, will be restated and, accordingly, that the foregoing financial statements should no longer be relied upon." CytoDyn stated that "[d]uring the preparation and audit of the annual financial statements as of and for the fiscal year ended May 31, 2022, the Company concluded that a material error was identified in how the Company was accounting for common stock issued to settle certain convertible note obligations dating back to fiscal year 2021. The Company had been accounting for these transactions in accordance with debt extinguishment accounting. However, although the contractual terms did not explicitly describe the transactions as induced conversions, the transactions should be accounted for as induced conversions rather than extinguishments of debt and are therefore subject to induced conversion accounting." On this news, CytoDyn's stock price fell $0.23 per share, or 20.18%, to close at $0.91 per share on August 8, 2022.
If you are aware of any facts relating to this investigation or purchased CytoDyn shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/cydy. You can also contact Peretz Bronstein or his Law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
SOURCE: Bronstein, Gewirtz and Grossman, LLC
View source version on accesswire.com:
https://www.accesswire.com/711336/Bronstein-Gewirtz-Grossman-LLC-Notifies-Shareholders-of-CytoDyn-Inc-CYDY-Investigation
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.