San Diego, CA -- (SBWire) -- 07/20/2016 --A deadline is coming up on July 25, 2016 in the lawsuit filed for investors of Unilife Corp (NASDAQ:UNIS over alleged securities laws violations by Unilife Corp.
Investors who purchased shares of Unilife Corp (NASDAQ:UNIS) have certain options and there are strict and short deadlines running. Deadline: July 25, 2016. NASDAQ:UNIS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
According to the complaint filed in the the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Unilife Corp (NASDAQ:UNIS) common shares between February 3, 2014 and May 23, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 3, 2014 and May 23, 2016 Defendants made false and/or misleading statements and/or failed to disclose that the Company's former CEO and former Chairman of the Board of Directors had violated the Company's policies and procedures and had engaged in violations of law and regulation, that the Company lacked adequate internal controls over accounting and financial reporting, that, as a result, the Company would be unable to file its Quarterly Report on Form 10-Q for the period ended March 31, 2016 by the prescribed filing deadline, and that, as a result of the foregoing, the Company's financial statements, as well as Defendants' statements about Unilife's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On May 9, 2016, Unilife Corp announced that it was postponing its earnings call due to the discovery by the Company's current management team of violations of Company policies and procedures and possible violations of law and regulation by the Company's former Chief Executive Officer and by the former Chairman of the Company's Board of Directors who resigned in 2015.
Shares of Unilife Corp (NASDAQ:UNIS) split 1:10 on May 13, 2016.
On May 23, 2016, Unilife announced that it has received a deficiency letter from NASDAQ for failing to file its financial reports within the required period.
On May 24, 2016, NASDAQ:UNIS shares declined to as low as $2.31 per share.
On July 19, 2016, NASDAQ:UNIS shares closed at $3.47 per share.
Those who purchased shares of Unilife Corp have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Deadline on July 25 in Lawsuit for Investors in Unilife Corp (NASDAQ:UNIS) Shares Upcoming
A Deadline is coming up on July 25, 2016 in the lawsuit for investors in Unilife Corp (NASDAQ:UNIS and NASDAQ:UNIS stockholders should contact the Shareholders Foundation.