The Law Offices of Frank R. Cruz Announces Investigation on Behalf of Aytu BioScience Inc. Investors (AYTU)
April 21 2020 - 8:23PM
Business Wire
The Law Offices of Frank R. Cruz announces an investigation on
behalf of Aytu BioScience Inc. ("Aytu" or the Company") (NASDAQ:
AYTU) investors concerning the Company and its officers’ possible
violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to
participate.
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 moving forward.
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 stated that the
Company 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, the Company’s share price fell $0.12 per share, or
8%, to close at $1.38 per share on April 17, 2020, thereby injuring
investors.
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If you purchased Aytu securities, have information or would like
to learn more about these claims, or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Frank R. Cruz, of The Law Offices of Frank
R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles,
California 90067 at 310-914-5007, by email to
info@frankcruzlaw.com, or visit our website at
www.frankcruzlaw.com. If you inquire by email please include your
mailing address, telephone number, and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20200421005952/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz,
310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
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