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  4. CytoDyn Inc (CYDY) Message Board

The wording in the 10K seems to clearly indicate t

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Post# of 154283
(Total Views: 528)
Posted On: 10/04/2022 2:55:17 PM
Posted By: Evil Rabbit
Re: generactor #129234
Quote:
The wording in the 10K seems to clearly indicate that Cytodyn is the subject of the investigations. I think it's important as investors to acknowledge that.



Fair point. Here's the exact wording below for those who don't know.

As stated in the last call, the FDA letter has been "closed out."

As for any SEC/DOJ subpoenas, I can almost promise you those were due to outside investigations into shorting, *and* complaints filed by disgruntled investors who hated NP. No doubt folks like Rosenbaum, Closetinvestor etc filed complaints with the SEC. At one point, Closet was even spreading the contact info for an FBI agent supposedly interviewing investors. This is par for the course with penny stocks, OTC companies, pre-rev biotechs. After all, we've got numbskulls like GoodSamantha claiming the company pays moderators to delete negative posts... so just filing a complaint with the SEC about that bogus nonsense could stir up trouble. These guys will stop at nothing to attack Cytodyn.

If the SEC wants to slap down NP for his videos, go for it. But Tanya and Cyrus seem to be running a squeaky clean ship now, so Hulk's concerns are unfounded and were never going to be answered definitively here, on a message board. He did succeed in getting us talking about big scary "investigations" though. So job well done I guess.

From the 10K
Quote:
We are subject to the oversight by the SEC and other regulatory agencies. Investigations by those agencies could divert management’s focus and have a material adverse effect on our reputation and financial condition.

We are subject to the regulation and oversight by the SEC and state regulatory agencies, in addition to the FDA and other federal regulatory agencies. As a result, we may face legal or administrative proceedings by these agencies. We have received subpoenas from the SEC and the U.S Department of Justice (the “DOJ”) requesting documents and information concerning, among other matters, leronlimab, our public statements regarding the use of leronlimab as a potential treatment for COVID-19, HIV, and triple-negative breast cancer, related communications with the FDA, investors, and others, litigation involving former employees, our retention of investor relations consultants, and trading in our securities. Certain of our executives have received subpoenas concerning similar issues and may be interviewed by the DOJ or SEC in the future. We are cooperating fully with these non-public, fact-finding investigations. In addition, we have received a Warning Letter from the FDA in which FDA asserted, among other matters, that statements made by our former CEO and President in a video interview created a misleading impression regarding the safety and efficacy of leronlimab. The Company is working closely with the FDA to resolve this matter and take the proper corrective actions. We are unable to predict the effect of any governmental investigations on our business, financial condition or reputation. In addition, publicity surrounding any investigation, even if ultimately resolved in our favor, could have a material adverse effect on our business. Refer to Part II, Item 8, Note 10, Commitments and Contingencies – Legal Proceedings of this Form 10-K for further information.



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