Group of Cytodyn Stockholders Nominates Five Highly Qualified Director Candidates to Replace Board Responsible for Mismanagement and Value Destruction
A group of long-time stockholders in CytoDyn Inc. (CYDY) has nominated five candidates for the Company’s Board of Directors, citing ineffective leadership and failures regarding the Leronlimab drug. The nominees, who include medical professionals and business leaders, aim to replace the current management team to secure FDA approval for Leronlimab and enhance shareholder value. The Nominating Stockholders have also launched a dedicated website for updates and plans to file a proxy statement with the SEC for the solicitation of proxies from other stockholders.
- Nominating experienced director candidates to improve management.
- Plans to enhance long-term value by pursuing FDA approval for Leronlimab.
- Current leadership accused of value-destructive failures regarding Leronlimab.
- Shareholder disenfranchisement due to current management practices.
A group of long-time stockholders (the “Nominating Stockholders”) of CytoDyn Inc. (“CYDY or the “Company) (OTC: CYDY) today announced that it has sent a notice to CYDY nominating five highly experienced director candidates – Thomas Errico, MD, Bruce Patterson, MD, Paul Rosenbaum, Peter Staats, MD and Melissa Yaeger – to serve on the Company’s Board of Directors.
In the letter to stockholders, the Committee highlights the numerous ill-advised actions taken by CYDY’s current leadership, which has overseen many value-destructive failures involving the Company’s Leronlimab drug, while manipulating its corporate machinery to further entrench the Board and disenfranchise investors. The letter emphasizes that if elected, the nominees would recruit a new management team to replace the current one that is responsible for these failures, and take the steps necessary to earn FDA approval for Leronlimab and enhance long-term value for all stockholders.
The full text of the Nominating Stockholders’ letter to CYDY stockholders can be accessed at: www.advancingll.com/letter.
The Nominating Stockholders have launched a website at www.advancingll.com that includes information about the nominees and the group’s platform. It will be continuously updated with additional information.
Important Information
Paul Rosenbaum, Jeffrey Beaty, Arthur Wilmes, Thomas Errico, M.D., Bruce Patterson, M.D., Peter Staats, M.D. and Melissa Yeager (collectively the “Participants”) intend to file with the Securities and Exchange Commission (the “SEC”) a definitive proxy statement and accompanying form of proxy to be used in connection with the solicitation of proxies from the stockholders of CytoDyn Inc. (the “Company”). All stockholders of the Company are advised to read the definitive proxy statement and other documents related to the solicitation of proxies by the Participants when they become available, as they will contain important information, including additional information related to the Participants. The definitive proxy statement and an accompanying proxy card will be, along with other relevant documents, available at no charge on the SEC website at http://www.sec.gov/. In addition, the Participants will provide copies of the proxy statement, without charge, when available, upon request. Requests for copies should be directed to the Participants’ Proxy Solicitor, Okapi Partners LLC, by calling (844) 202-7428.
Disclaimer
This material does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any jurisdiction to any person. In addition, the discussions and opinions in this press release and the material contained herein are for general information only, and are not intended to provide investment advice. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are “forward-looking statements,” which are not guarantees of future performance or results, and the words “anticipate,” “believe,” “expect,” “potential,” “could,” “opportunity,” “estimate,” and similar expressions are generally intended to identify forward-looking statements. The projected results and statements contained in this press release and the material contained herein that are not historical facts are based on current expectations, speak only as of the date of this press release and involve risks that may cause the actual results to be materially different. Certain information included in this material is based on data obtained from sources considered to be reliable. No representation is made with respect to the accuracy or completeness of such data. The Participants disclaim any obligation to update the information herein and reserve the right to change any of their opinions expressed herein at any time as it deems appropriate. Past performance is not indicative of future results.
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