Cytodyn Inc. (CYDY) Resolves Legal Dispute with Ex Chief Medical Officer

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Go back to Cytodyn Inc. (CYDY) Resolves Legal Dispute with Ex Chief Medical Officer

CytoDyn Announces Resolution of Legal Dispute with Former Chief Medical Officer

May 23, 2022 8:30 AM EDT

VANCOUVER, Washington, May 23, 2022 (GLOBE NEWSWIRE) -- CytoDyn Inc. (OTCQB: CYDY) ("CytoDyn" or the "Company"), a biotechnology company developing leronlimab, a CCR5 antagonist with the potential for multiple therapeutic indications, today announced that it has reached a non-cash settlement with its former Chief Medical Officer, Dr. Richard Pestell, concerning an ongoing legal dispute related to his former employment with the Company.

Under the terms of the agreement, the parties will release each other of all claims, and the Company will release to Dr. Pestell 8.3 million shares of... More