Aytu Bioscience Inc. (AYTU)
AYTU Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders of Investigation of Aytu Bioscience Inc. and Encourages Investors to Contact the Firm
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Aytu BioSciences, Inc. ("Aytu" or "the Company") (NYSE: AYTU). The investigation concerns whether Aytu and certain of its officers and/or directors have violated federal securities laws.
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.
If you are aware of any facts relating to this investigation, or purchased Aytu shares, you can assist this investigation by contacting the firm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.