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CytoDyn Calls Yahoo! Good Corporate Citizen
CytoDyn Calls Yahoo! Good Corporate Citizen
Published 06-01-07
Submitted by CytoDyn
SANTA FE, N.M.--(BUSINESS WIRE)--June 1, 2007--On May 20, 2007, Yahoo! Finance posted an erroneous claim that CytoDyn, Inc. (Pink Sheets:CYDY) had filed for voluntary bankruptcy. The error was clearly inadvertent. Yahoo! had confused CytoDyn, Inc. a fully reporting Colorado corporation, with a privately held New Mexico corporation having a similar name. But the timing was especially inopportune. CytoDyn, Inc. had just opened a new private placement to refresh capital in anticipation of positive results from the Company's initial study of its advanced DNA-based bird flu vaccine.
Based on previous experience with other large corporations, CytoDyn's management expected to spend at least three months having the error corrected and assigned that task to the Company's lead securities lawyer. It was a pleasant surprise when Yahoo! corrected the error within days of being notified. "It says something about America's corporate culture that I was shocked to see a large corporation correct a potentially harmful and obvious error without our having to plow through several levels of gate keepers," said Allen D. Allen, CytoDyn's CEO. "Yahoo! is to be commended as a good corporate citizen," Allen added.
This press release makes forward-looking statements that are not historical facts. The Company's management makes forward-looking statements concerning the Company's expected future operations, performance and other developments. These forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. There can be no assurance that such risks and uncertainties, or other factors, will not affect the accuracy of such forward-looking statements. It is impossible to identify all factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, victimization by white-collar offenders, and the effects of adverse publicity, litigation, competition, and other factors that may be identified from time to time in the Company's announcements.
Copyright Business Wire 2007
