CORRECTING and REPLACING Robbins Geller Rudman & Dowd LLP Files Class Action
Suit Against Uni-Pixel, Inc.
CORRECTION...by Robbins Geller Rudman & Dowd LLP
NEW YORK -- June 5, 2013
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
The corrected release reads:
ROBBINS GELLER RUDMAN & DOWD LLP FILES CLASS ACTION SUIT AGAINST UNI-PIXEL,
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”) (Nasdaq: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
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
Robbins Geller Rudman & Dowd LLP
Samuel H. Rudman, 800-449-4900
David A. Rosenfeld
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