CytoDyn Calls Yahoo! Good Corporate Citizen.SANTA FE Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. , N.M. -- On May 20, 2007, Yahoo! Finance posted an erroneous claim that CytoDyn, Inc. (Pink Sheets:CYDY) had filed for voluntary bankruptcy voluntary bankruptcy n. the filing for bankruptcy by a debtor who believes he/she/it cannot pay bills and has more debts than assets. Voluntary bankruptcy differs from "involuntary bankruptcy" filed by creditors owed money to bring the debtor before the 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 in·op·por·tune adj. Inappropriate or ill-timed; not opportune. in·op  por·tune . 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 bird flu: see influenza. bird flu or avian influenza viral respiratory disease, mainly of birds including poultry and waterbirds but also transmissible to humans. 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "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 victimization Social medicine The abuse of the disenfranchised–eg, those underage, elderly, ♀, mentally retarded, illegal aliens, or other, by coercing them into illegal activities–eg, drug trade, pornography, prostitution. by white-collar offenders, and the effects of adverse publicity, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , competition, and other factors that may be identified from time to time in the Company's announcements. |
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