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On May 7, 2024, Cryoport announced “disappointing” first quarter earnings for fiscal 2024. Jerrell Shelton, CEO of Cryoport, attributed the weak earnings to a “difficult environment globally” and “softer than anticipated” revenue growth in the company’s Life Sciences Services segment. On this news, Cryoport’s stock price fell $3.20 per share or nearly 20% in the span of just a day.
In order to be eligible to join the CYRX class action lawsuit, you must have incurred a loss on shares of Cryoport purchased during the class period listed above.
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