secwatch.observer — SEC 8-K summary
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Issuer:     CytoDyn Inc. (CYDY)
CIK:        0001175680
Form:       8-K
Filed at:   2023-12-22T23:59:59+00:00
Accession:  0001558370-23-020003
Event type: litigation
Sentiment:  neutral
Materiality: 0.25
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1175680/000155837023020003/0001558370-23-020003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1175680/000155837023020003/cydy-20231219x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-020003

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