---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-020003"
form_type: "8-K"
ticker: "CYDY"
cik: "0001175680"
company_name: "CytoDyn Inc."
filed_at: "2023-12-22T23:59:59+00:00"
generated_at: "2026-06-07T07:45:55.604969+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# CytoDyn settles class action over director removal clause; pays $59,500

## Summary
- Class action challenged 'Only With Cause Clause' for removing directors; court invalidated it in January 2022.
- Company filed Certificate of Correction in April 2022 to remove the clause per court order.
- Settlement reached in December 2023: $59,500 in attorneys' fees and expenses plus $500 service award to plaintiffs.
- No admission of liability; court has not expressed opinion on fee amount.

## SEC filing metadata
- accession: 0001558370-23-020003
- form_type: 8-K
- ticker: CYDY
- cik: 0001175680
- company_name: CytoDyn Inc.
- filed_at: 2023-12-22T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1175680/000155837023020003/0001558370-23-020003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1175680/000155837023020003/cydy-20231219x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-020003
- JSON: https://secwatch.observer/filing/0001558370-23-020003.json
- Plain text: https://secwatch.observer/filing/0001558370-23-020003.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.