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Posted On: 08/23/2019 4:34:07 PM
Post# of 154913
Form 8-K Just filed
Item 8.01. Other Events.
As previously announced, effective July 25, 2019, the board of directors of CytoDyn Inc., a Delaware corporation (the “Company”), terminated the employment of Dr. Richard G. Pestell for cause pursuant to the terms of his employment agreement with the Company. Dr. Pestell is the Company’s former Chief Medical Officer and a former director. On August 22, 2019, the Company received notice that Dr. Pestell filed a lawsuit against the Company in the United States District Court for the District of Delaware alleging breach of Dr. Pestell’s employment agreement, among other claims, and seeking damages in the amount of certain severance entitlements thereunder, among other relief. The Company intends to vigorously defend the action.
Item 8.01. Other Events.
As previously announced, effective July 25, 2019, the board of directors of CytoDyn Inc., a Delaware corporation (the “Company”), terminated the employment of Dr. Richard G. Pestell for cause pursuant to the terms of his employment agreement with the Company. Dr. Pestell is the Company’s former Chief Medical Officer and a former director. On August 22, 2019, the Company received notice that Dr. Pestell filed a lawsuit against the Company in the United States District Court for the District of Delaware alleging breach of Dr. Pestell’s employment agreement, among other claims, and seeking damages in the amount of certain severance entitlements thereunder, among other relief. The Company intends to vigorously defend the action.
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