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LOS ANGELES, March 23, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of CytoDyn, Inc. ("CytoDyn" or "the Company") (OTCMKT: CYDY) investors that acquired securities between March 27, 2020 and March 9, 2021.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

It is alleged in this complaint that made materially misleading and/or false statements touting Leronlimab as a potential treatment for COVID-19 in order to inflate the CytoDyn stock price while executives were aggressively selling their shares. It is also alleged in this complaint that CytoDyn engaged in an illegal scheme whereby Iliad Research and Trading L.P. and other entities related to Iliad’s principal John Fife operated as an unregistered securities dealer for CytoDyn. CytoDyn’s share price fell $1.14 per share, or 28%, on this news, to close at $2.91 on March 8, 2021. Shares of CytoDyn dropped an additional 19% on March 9, 2021 to close at $2.35, thereby further injuring investors.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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