NEW YORK, April 20, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Aytu BioSciences, Inc. (“Aytu” or the “Company”) (NASDAQ: AYTU) Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Aytu and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 10, 2020, Aytu reported that it reached a license agreement for the exclusive distribution of a point-of-care rapid test for certain COVID-19 antibodies in the U.S. for three years, with three year auto-renewals thereafter. Then, on April 17, 2020, pre-market, NBC News issued a report entitled “Unapproved Chinese coronavirus antibody tests being used in at least 2 states.” Citing health officials and U.S. Food and Drug Administration (“FDA”) filings, the article reported that Aytu has been distributing unreliable COVID-19 tests from unapproved Chinese manufacturers, which were shipped to the U.S. after the FDA relaxed its guidelines for tests in mid-March.
On this news, Aytu’s stock price fell $0.12 per share, or 8%, to close at $1.38 per share on April 17, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980