Wohl & Fruchter LLP Announces Investigation of Uni-Pixel, Inc.
NEW YORK -- May 22, 2013
The law firm of Wohl & Fruchter LLP announces that it is investigating
possible violations of federal securities laws by officers and directors of
Uni-Pixel, Inc. (Uni-Pixel) (Nasdaq: UNXL).
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, and
that the company says is cheaper to manufacture and more responsive than other
On December 7, 2012, Uni-Pixel announced that it had entered into an agreement
with a personal computer (PC) manufacturer to develop and introduce products
that feature next-generation touch screens based on its UniBoss technology.
On a conference call with analysts on February 26, 2013, Uni-Pixel’s President
and CEO, Reed Killion, advised that products from the PC manufacturer
incorporating UniBoss technology would be on store shelves by September 2013
during the third quarter. Killion reiterated this timeline in a second
conference call with analysts on April 30, 2013.
On April 16, 2013, Uni-Pixel announced that it had entered into a
manufacturing and supply agreement with Eastman Kodak Company (Kodak) to
produce touch screen sensors based on its UniBoss technology. Kodak did not
file a Form 8-K with respect to the agreement, or mention the agreement in its
disclosure statement filed with the bankruptcy court on April 30, 2013.
On May 11, 2013, Barron’s published an article entitled “Out of Touch?”
questioning Uni-Pixel’s prospects, noting that, among other things, Uni-Pixel
faces competition from several experienced and well-capitalized producers, and
that Uni-Pixel has failed to commercialize other promising products in the
On May 20, 2013, Uni-Pixel announced that the PC manufacturer with whom it is
working recently reported delays with associated operating system software
that would delay the appearance of products utilizing UniBoss technology from
the third quarter into the fourth quarter of 2013.
Since publication of the Barron’s article, and the delay announced on May 20,
2013, UNXL shares have declined over 31% from a close of $34.13/share on May
13, 2013 to a close of $23.47/share on May 21, 2013.
Wohl & Fruchter’s investigation concerns whether officers and directors of
Uni-Pixel violated federal securities laws by, among other things,
misrepresenting the nature and commercial potential of the agreements entered
into by Uni-Pixel with other companies to develop, manufacture and deploy
UniBoss, and the ability of Uni-Pixel to successfully produce UniBoss in
commercially meaningful volumes within the timeframes forecast by management.
Persons with relevant information, and UNXL shareholders with questions about
this investigation, are invited to contact the attorney below, or our Firm by
Additional information is available on our website at:
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and
other fiduciary breaches by corporate managers, as well as other complex
litigation matters. Please visit our website, www.wohlfruchter.com, to learn
more about our Firm, or contact one of our partners.
This release may be deemed to constitute attorney advertising.
Wohl & Fruchter LLP
J. Elazar Fruchter, 845-425-4658
Toll Free 866-582-8140
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