CytoDyn Can Hold Meeting Even if Board Battle Ruling Is Appealed

CytoDyn Inc. can hold its annual meeting Oct. 28 without presenting a dissident director slate to shareholders, a Delaware judge ruled Wednesday, likely cutting off an activist investor group’s bid to appeal his decision last week allowing the board to reject its nominees.

Vice Chancellor Joseph R. Slights III denied the motion for an injunction pending review of his Oct. 14 ruling for Delaware’s Chancery Court, which found that the investor group failed to disclose certain financial backers and conflicts out of “either reckless indifference or deliberate gamesmanship.”

Although an appeal “likely cannot be decided” before the meeting, it was ...