Aytu BioPharma Disclosure Notification
Aytu BioPharma (NASDAQ:AYTU) has announced a settlement notification regarding a derivative action lawsuit (Witmer v. Armistice Capital ). The settlement involves D&O Defendants Joshua Disbrow, Gary Cantrell, John Donofrio, Jr., Carl Dockery, and Ketan B. Mehta.
A settlement hearing is scheduled for January 13, 2025, at 3:15 p.m. at the Court of Chancery of Delaware to determine if the settlement terms are fair and reasonable. Current AYTU shareholders as of October 9, 2024 (Record Date) may have rights regarding the proposed settlement and can obtain detailed information from the company's website or by contacting Morris Kandinov LLP.
Shareholders who don't object to the settlement need not take any action or appear at the hearing. Those who don't object or appear will be bound by the Court's final judgment.
Aytu BioPharma (NASDAQ:AYTU) ha annunciato una notifica di accordo riguardante una causa legale derivativa (Witmer v. Armistice Capital). L'accordo coinvolge i convenuti D&O Joshua Disbrow, Gary Cantrell, John Donofrio, Jr., Carl Dockery e Ketan B. Mehta.
Un'udienza di approvazione dell'accordo è programmata per il 13 gennaio 2025 alle 15:15 presso la Corte di Cancelleria del Delaware per determinare se i termini dell'accordo siano equi e ragionevoli. Gli attuali azionisti AYTU al 9 ottobre 2024 (Data di Registrazione) potrebbero avere diritti riguardo all'accordo proposto e possono ottenere informazioni dettagliate dal sito web della compagnia o contattando il Morris Kandinov LLP.
Gli azionisti che non si oppongono all'accordo non devono intraprendere alcuna azione o comparire all'udienza. Coloro che non si oppongono o non si presentano saranno vincolati dalla sentenza finale del Tribunale.
Aytu BioPharma (NASDAQ:AYTU) ha anunciado una notificación de acuerdo relacionada con una demanda de acción derivativa (Witmer v. Armistice Capital). El acuerdo involucra a los demandados D&O Joshua Disbrow, Gary Cantrell, John Donofrio, Jr., Carl Dockery y Ketan B. Mehta.
Se ha programado una audiencia de acuerdo para el 13 de enero de 2025 a las 3:15 p.m. en la Corte de Cancillería de Delaware para determinar si los términos del acuerdo son justos y razonables. Los actuales accionistas de AYTU al 9 de octubre de 2024 (Fecha de Registro) pueden tener derechos con respecto al acuerdo propuesto y pueden obtener información detallada del sitio web de la empresa o contactando a Morris Kandinov LLP.
Los accionistas que no se opongan al acuerdo no necesitan tomar ninguna acción ni comparecer a la audiencia. Aquellos que no se opongan o no comparezcan estarán sujetos al fallo final del Tribunal.
아이투 바이오파마 (NASDAQ:AYTU)는 파생 소송(Witmer v. Armistice Capital)에 대한 합의 통지를 발표했습니다. 이 합의는 D&O 피고인인 Joshua Disbrow, Gary Cantrell, John Donofrio, Jr., Carl Dockery 및 Ketan B. Mehta를 포함합니다.
합의 청문회는 2025년 1월 13일 오후 3시 15분에 델라웨어 법원에서 합의 조건이 공정하고 합리적인지 판단하기 위해 예정되어 있습니다. 2024년 10월 9일(기록일) 기준 AYTU의 현재 주주들은 제안된 합의와 관련하여 권리가 있을 수 있으며, 회사 웹사이트에서 세부 정보를 얻거나 Morris Kandinov LLP에 문의할 수 있습니다.
합의에 반대하지 않는 주주는 아무런 조치를 취하거나 청문회에 출석할 필요가 없습니다. 반대하거나 출석하지 않는 경우, 법원의 최종 판결에 구속됩니다.
Aytu BioPharma (NASDAQ:AYTU) a annoncé une notification de règlement concernant une action en justice dérivée (Witmer c. Armistice Capital). Le règlement implique les défendeurs D&O Joshua Disbrow, Gary Cantrell, John Donofrio, Jr., Carl Dockery et Ketan B. Mehta.
Une audience de règlement est prévue pour le 13 janvier 2025 à 15h15 au Tribunal de Chancellerie du Delaware afin de déterminer si les conditions du règlement sont justes et raisonnables. Les actionnaires AYTU actuels au 9 octobre 2024 (date d'enregistrement) peuvent avoir des droits concernant le règlement proposé et peuvent obtenir des informations détaillées sur le site web de l'entreprise ou en contactant Morris Kandinov LLP.
Les actionnaires qui ne s'opposent pas au règlement n'ont pas besoin de prendre de mesures ni de se présenter à l'audience. Ceux qui ne s'opposent pas ou ne se présentent pas seront liés par le jugement final du Tribunal.
Aytu BioPharma (NASDAQ:AYTU) hat eine Mitteilung über einen Vergleich im Zusammenhang mit einer Derivativklage (Witmer v. Armistice Capital) bekannt gegeben. Der Vergleich betrifft die D&O-Beschuldigten Joshua Disbrow, Gary Cantrell, John Donofrio, Jr., Carl Dockery und Ketan B. Mehta.
Eine Vergleichsverhandlung ist für den 13. Januar 2025 um 15:15 Uhr am Court of Chancery von Delaware angesetzt, um zu klären, ob die Vergleichsbedingungen fair und angemessen sind. Die aktuellen AYTU-Aktionäre zum 9. Oktober 2024 (Stichtag) könnten Rechte in Bezug auf den vorgeschlagenen Vergleich haben und können detaillierte Informationen auf der Website des Unternehmens oder durch Kontaktaufnahme mit Morris Kandinov LLP erhalten.
Aktionäre, die dem Vergleich nicht widersprechen, müssen keine Maßnahmen ergreifen oder bei der Verhandlung erscheinen. Wer nicht widerspricht oder erscheint, ist an das endgültige Urteil des Gerichts gebunden.
- Settlement of pending derivative action lawsuit, potentially reducing legal uncertainties
- Legal proceedings and settlements may involve financial costs for the company
Insights
This legal settlement notification regarding a derivative action is significant for AYTU BioPharma stockholders. The settlement involves key company officers and directors (D&O Defendants) and requires court approval at a hearing scheduled for January 13, 2025. Derivative actions typically involve shareholders suing on behalf of the company against insiders for alleged breaches of fiduciary duty or other misconduct.
The settlement's terms will be binding on all current shareholders as of October 9, 2024, unless they formally object. While specific settlement terms aren't disclosed, such agreements often include monetary compensation to the company and corporate governance reforms. For a micro-cap company with a
Shareholders have rights to review and object to the settlement terms, but must take action before the hearing date. The involvement of multiple board members and executives suggests this was a substantial corporate governance issue that required resolution.
DENVER, CO / ACCESSWIRE / December 3, 2024 / SUMMARY NOTICE OF PENDENCY OF DERIVATIVE ACTION, AGREEMENT OF SETTLEMENT AND RELEASE WITH RESPECT TO CERTAIN PARTIES, AND SETTLEMENT HEARING IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE LITIGATION STYLED WITMER V. ARMISTICE CAPITAL LLC, ET AL., NO. 2022-0807-MTZ (THE "ACTION").
TO: ALL CURRENT RECORD HOLDERS AND BENEFICIAL OWNERS OF COMMON STOCK OF AYTU BIOPHARMA, INC. ("AYTU" OR THE "COMPANY") (Nasdaq:AYTU) AS OF OCTOBER 9, 2024 (THE "RECORD DATE") ("CURRENT AYTU SHAREHOLDERS").
YOU ARE HEREBY NOTIFIED that the Settling Parties to the Action have reached a settlement ("Settlement") to resolve the issues raised in the Action against Defendants Joshua Disbrow, Gary Cantrell, John Donofrio, Jr., Carl Dockery, and Ketan B. Mehta (the "D&O Defendants").
PLEASE BE FURTHER ADVISED that pursuant to an Order of the Court of Chancery of the State of Delaware, a hearing will be held on the 13th day of January, 2025 at 3:15 p.m., at the Court of Chancery of the State of Delaware, New Castle County, Leonard L. Williams Justice Center, 500 North King Street, Wilmington, Delaware 19801, to determine: (i) whether the terms of the Settlement are fair, reasonable, and adequate and should be approved; (ii) whether a final judgment should be entered; and (iii) such other matters as may be necessary or proper under the circumstances.
If you are a current Aytu Shareholder, you may have certain rights in connection with the proposed Settlement. You should obtain a copy of the full printed Notice of Pendency of Derivative Action, Proposed Agreement of Settlement and Release, and Settlement Hearing, at aytubio.com or by contacting Morris Kandinov LLP by telephone at 332.282.6639 or in writing at andrew@moka.law or 305 Broadway, 7th Floor, New York, NY 10007.
If you are a Current Aytu Shareholder and do not take steps to appear in this Action or to object to the proposed Settlement, you will be bound by the Order and Final Judgment of the Court, you will forever be barred from raising an objection to such Settlement in this or any other action or proceeding, and certain claims that you might have may be released.
CURRENT AYTU SHAREHOLDERS WHO HAVE NO OBJECTION TO THE SETTLEMENT DO NOT NEED TO APPEAR AT THE SETTLEMENT HEARING OR TAKE ANY OTHER ACTION.
You may obtain further information by writing Morris Kandinov LLP at the address above.
PLEASE DO NOT CALL, WRITE, OR OTHERWISE DIRECT QUESTIONS TO EITHER THE COURT OR THE REGISTRAR'S OFFICE.
Contact Information
Ryan Selhorn
Chief Financial Officer
rselhorn@aytubio.com
Robert Blum
Lytham Partners
aytu@lythampartners.com
SOURCE: Aytu BioPharma, Inc
View the original press release on accesswire.com
FAQ
When is the settlement hearing for Aytu BioPharma (AYTU) derivative action lawsuit?
What is the record date for AYTU shareholders regarding the settlement?
Who are the D&O Defendants in the AYTU derivative action settlement?
Do AYTU shareholders need to take action if they don't object to the settlement?
