Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Uni-Pixel, Inc.
WAYNE, Pa., June 6, 2013
WAYNE, Pa., June 6, 2013 /PRNewswire/ --Ryan & Maniskas, LLP
(www.rmclasslaw.com/cases/unxl) announces that a class action lawsuit has been
filed in 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").
For more information regarding this class action suit, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by
email at email@example.com or visit: www.rmclasslaw.com/cases/unxl.
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.
If you are a member of the class, you may, no later than August 5, 2013,
request that the Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other class members
in directing the litigation. In order to be appointed lead plaintiff, the
Court must determine that the class member's claim is typical of the claims of
other class members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may together
serve as "lead plaintiff." Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead plaintiff.
You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve
as your counsel in this action.
For more information about the case or to participate online, please visit:
www.rmclasslaw.com/cases/unxl or contact Richard A. Maniskas, Esquire
toll-free at (877) 316-3218, or by e-mail at firstname.lastname@example.org. For
more information about class action cases in general or to learn more about
Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal courts
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
SOURCE Ryan & Maniskas, LLP
Press spacebar to pause and continue. Press esc to stop.