BOSTON, April 17, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, is investigating Aytu BioScience, Inc. (NASDAQ: AYTU) and certain of its officers for potential securities fraud. Investors who purchased Aytu shares should contact Block & Leviton for a free case evaluation.
Aytu is a specialty pharmaceutical company focused on global commercialization of products addressing a variety of medical needs. 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. On this news, the price of Aytu’s stock soared 322%.
This morning, before the markets opened, NBC News issued a report entitled “Unapproved Chinese coronavirus antibody tests being used in at least 2 states.” This article reported that Aytu has been distributing tests from unapproved Chinese manufacturers, citing health officials and FDA filings. The report noted that these tests were shipped to the US after the FDA relaxed its guidelines for tests in mid-March. According to the article, unreliable tests can produce false results. The stock has already dropped significantly in premarket trading.
If you purchased or acquired shares of Aytu common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, or via email at cases@blockesq.com, or at https://shareholder.law/aytu.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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SOURCE: Block & Leviton LLP
www.blockesq.com