CORRECTING and REPLACING Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Uni-Pixel, Inc.
NEW YORK--(BUSINESS WIRE)-- Fifth paragraph should read: ... with the stock price dropping from its Class Period high of $41.00 per share on April 17, 2013 to close $15.21 per share on May 31, 2013 (sted ...with the stock price dropping from its Class Period high of $72.54 per share on November 30, 2012 to close at $15.21 per share on May 31, 2013).
The corrected release reads:
ROBBINS GELLER RUDMAN & DOWD LLP FILES CLASS ACTION SUIT AGAINST UNI-PIXEL, INC.
Robbins Geller Rudman & Dowd LLP ("Robbins Geller") (http://www.rgrdlaw.com/cases/unipixel/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Uni-Pixel, Inc. ("Uni-Pixel" or the "Company") (NAS: UNXL) common stock during the period between December 7, 2012 and May 31, 2013 (the "Class Period").
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at firstname.lastname@example.org. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/unipixel/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Uni-Pixel and certain of its officers with violations of the Securities Exchange Act of 1934. Uni-Pixel manufactures fingerprint-resistant and hard coat protective cover films for touch screen-enabled devices. Its key product is UniBoss, a copper-mesh film that sits under the glass in touch-sensitive devices, which the Company claims is cheaper to manufacture and more responsive than other competing technologies.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's operations and business. Specifically, defendants failed to disclose that: (i) the terms of Uni-Pixel's purported December 2012 licensing agreement with a "Major PC Maker" were either immaterial or legally unenforceable; (ii) the terms of Uni-Pixel's purported April 2013 licensing agreement with a "Major Ecosystem Partner" were either immaterial or legally unenforceable; (iii) the terms of Uni-Pixel's purported April 2013 manufacture and supply agreement with Kodak were either immaterial or legally unenforceable; (iv) there were significant design defects in the UniBoss product; and (v) as a result, defendants knew the Company's projected sales and earnings were unattainable.
The complaint alleges that the market price of Uni-Pixel's common stock declined precipitously in May, 2013 as the market learned that the Company's business metrics and financial prospects were not as represented during the Class Period, with the stock price dropping from its Class Period high of $41.00 per share on April 17, 2013 to close $15.21 per share on May 31, 2013.
Plaintiff seeks to recover damages on behalf of all purchasers of Uni-Pixel common stock during the Class Period (the "Class"). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Robbins Geller represents U.S. and international institutional investors in contingency-based securities and corporate litigation. With nearly 200 lawyers in nine offices, the firm represents hundreds of public and multi-employer pension funds with combined assets under management in excess of $2 trillion. The firm has obtained many of the largest recoveries and has been ranked number one in the number of shareholder class action recoveries in MSCI's Top SCAS 50 every year since 2003. Please visit http://www.rgrdlaw.com for more information.
Robbins Geller Rudman & Dowd LLP
Samuel H. Rudman, 800-449-4900
David A. Rosenfeld
KEYWORDS: United States North America New York
The article CORRECTING and REPLACING Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Uni-Pixel, Inc. originally appeared on Fool.com.