Uni-Pixel, Inc. Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that a federal class action lawsuit has been filed against Uni-Pixel, Inc. ("Uni-Pixel" or "Company") (NAS: UNXL) . The firms are investigating additional legal claims against the officers and Board of Directors of Uni-Pixel during the period of December 7, 2012 and May 31, 2013 (the "Class Period").
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607, via email at firstname.lastname@example.org. There is no cost or fee to you.
In a recently filed federal class action complaint, Uni-Pixel and certain of its officers and directors were charged with violating certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that among other things, defendants' misrepresented and/or failed to disclose that: (i) the terms of the purported December 2012 licensing agreement with a "Major PC Maker" were either immaterial or legally unenforceable; (ii) the terms of the purported April 2013 licensing agreement with a "Major Ecosystem Partner" were either immaterial or legally unenforceable; (iii) the terms of the purported April 2013 manufacture and supply agreement with Kodak were either immaterial or legally unenforceable; (iv) there were significant design defects in the UniBoss technology; and (v) as a result, defendants knew the Company's projected sales and earnings were unattainable. During the Class Period, the price of Uni-Pixel stock were as high as $41.00, but as the fraud became know to the market, the stock dropped as low as $15.21 per share.
Shareholder rights attorney Willie Briscoe said, "Recent revelations about alleged improper business practices and procedures regarding key aspects of Uni-Pixel's business and other misleading financial statements have prompted the firms to investigate possible breaches of fiduciary duties and other violations of state law by Uni-Pixel's officers and directors. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of Uni-Pixel stock for all shareholders."
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
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The article Uni-Pixel, Inc. Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors originally appeared on Fool.com.
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