LOS ANGELES–(BUSINESS WIRE)–$AYTU #fraud—Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf Aytu BioScience, Inc. (“Aytu” or the Company”) (NASDAQ: AYTU) investors concerning the Company and its officers’ possible violations of the federal securities laws.
If you suffered a loss on your Aytu investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email firstname.lastname@example.org or visit our website at www.glancylaw.com to learn more about your rights.
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.
Whistleblower Notice: Persons with non-public information regarding Aytu should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email email@example.com.
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