Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Uni-Pixel, Inc.


Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Uni-Pixel, Inc.

WASHINGTON--(BUSINESS WIRE)-- Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Uni-Pixel, Inc.("Uni-Pixel", "UniPixel" or the "Company") and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

A class action lawsuit was filed in the U.S. District Court for the Southern District of New York by another law firm on behalf of purchasers of the common stock of Uni-Pixel, Inc. (NAS: UNXL) between December 7, 2012 and May 31, 2013, inclusive (the "Class Period").

The complaint alleges that Uni-Pixel and certain of its officers and directors ("Defendants") misrepresented and/or failed to disclose that: (1) the terms of a purported December 2012 licensing agreement with a "Major PC Maker", a purported April 2013 licensing agreement with a "Major Ecosystem Partner", and a purported April 2013 manufacture and supply agreement with Kodak were either immaterial or legally unenforceable; (2) there were significant design defects in the UniBoss technology; and (3) as a result, Defendants knew the Company's projected sales and earnings were unattainable.

The Class Period starts on December 7, 2012. Before the opening of trading that day, Uni-Pixel issued a press release entitled "UniPixel and Major PC Maker Enter Multi-Million Dollar Preferred Price and Capacity License Agreement to Introduce Products With UniBoss-Based Touch Screens." The press release stated, in pertinent part, that Uni-Pixel had "joined forces with a manufacturer of personal computers to develop and introduce products that feature next-generation touch screens based on UniPixel's UniBoss pro-cap, multi-touch sensor film"; that "UniPixel ha[d] granted the PC maker a limited exclusive license in the notebook market segment for UniBoss Performance Engineered Film technology that provide[d] the licensee priority development, dedicated production capacity and preferred pricing"; and that "[t]he license [could] be extended to the PC maker's supply chain, including third-party manufacturing partners, touch panel module manufactures, controller manufactures, LCD makers and original design manufacturers." The Company also said that the specific "terms of the agreement and name of the PC maker [would remain] confidential," but through its CEO and President, Uni-Pixel affirmatively stated in the press release that the "preferred price and capacity license agreement further[ed] UniPixel's stated go-to-market strategy."

The complaint alleges that the price of Uni-Pixel stock dropped during the second half of May 2013, following a number of articles and disclosures about the Company, including:

  • A May 11, 2013 Barrons article entitled "Out of Touch? Uni-Pixel shares have rallied sharply on the company's hopes for its touchscreen technology. But hefty competition, and a history of product disappointments, suggest investors should be wary."

  • A May 20, 2013 disclosure by Uni-Pixel that the "Major PC Maker" had reported delays with associated operating system software that would delay the appearance of products utilizing UniBoss technology from the third quarter of 2013 into the fourth quarter of 2013; and

  • The issuance of several investigative reporting pieces, with one on May 19, 2013, specifically emphasizing that Kodak had deemed a purported agreement with Uni-Pixel to be so insignificant that it had not even bothered to file a Current Report on Form 8-K with the SEC announcing it.

This news allegedly caused the price of Uni-Pixel stock to begin dropping, falling to $19.78 per share by the close of trading on May 30, 2013, on usually high trading volume.

On May 31, 2013, the price of Uni-Pixel stock dropped almost 24% on the issuance of a Seeking Alpha report raising significant quality issues with the touch mesh employed in the UniBoss. The price of Uni-Pixel stock fell from its May 30, 2013 closing price of $19.78 per share to close $15.21 on May 31, 2013, a decline of $4.57 per share, on extremely high volume.

Cohen Milstein encourages all investors who purchased Uni-Pixel common stock between December 7, 2012 and May 31, 2013 or former employees with information concerning this matter to contact the firm.

If you are a Uni-Pixel shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein's Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2013 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers & Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Chicago, Philadelphia and Palm Beach Gardens, and is active in major litigation pending in federal and state courts throughout the nation.

The firm's reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over a billion dollars. Prior results do not guarantee a similar outcome. For more information visit

If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:

Steven J. Toll, Esq.
Asha Williams
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
West Tower, Suite 500
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600

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Cohen Milstein Sellers & Toll PLLC
Steven J. Toll, Esq.
888-240-0775 or 202-408-4600
Asha Williams
888-240-0775 or 202-408-4600

KEYWORDS: United States North America District of Columbia New York


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