WILMINGTON, Del., Dec. 17, 2019 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Delaware on behalf of holders of Aytu BioScience, Inc. (“Aytu”) (NASDAQ GS: AYTU) common stock (the “Complaint”). The Complaint alleges violations of the Securities Exchange Act of 1934 against Aytu and its Board of Directors (the “Board”) and is captioned Franchi v. Aytu BioScience, Inc., Case No. 1:19-cv-02204 (D. Del.).
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at firstname.lastname@example.org, or at http://rigrodskylong.com/contact-us/.
Among other things, the Complaint alleges that defendants issued materially incomplete disclosures in a proxy statement (the “Proxy Statement”) filed with the United States Securities and Exchange Commission, which recommends that Aytu’s stockholders vote on proposals to approve, inter alia: (1) the convertibility of the Company’s Series F convertible preferred stock and the exercisability of PIPE warrants issued in a private placement offering that closed October 16, 2019; and (2) the convertibility of the Company’s Series G convertible preferred stock issued to Cerecor Inc. pursuant to an asset purchase agreement. The Complaint alleges that the Proxy Statement omits material information and seeks injunctive and equitable relief and damages on behalf of holders of Aytu common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than February 17, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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