A Deadline is coming up on June 18, 2013 in lawsuit for investors in UniTek Global Services Inc. (NASDAQ:UNTK) and UniTek Global Services Inc. (NASDAQ:UNTK) stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 06/04/2013 -- A deadline is coming up on June 18, 2013 in the lawsuit filed for investors of UniTek Global Services Inc. (NASDAQ:UNTK) over alleged securities laws violations by UniTek Global Services in connection certain allegedly false and misleading statements made between May 18, 2011 through April 12, 2013.
Investors with a substantial investment in UniTek Global Services Inc. (NASDAQ:UNTK) shares between May 18, 2011 through April 12, 2013, should get active before the Deadline that is coming up on June 18, 2013, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the the U.S. District Court for the Eastern District of Pennsylvania the plaintiff alleges on behalf of purchasers of UniTek Global Services Inc. (NASDAQ:UNTK) during the period from May 18, 2011 through April 12, 2013, that UniTek Global Services Inc. and certain of its officers violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements and omissions regarding the Company's financial condition and prospects as well as its internal controls.
On April 12, 2013, UniTek Global Services Inc. announced selected estimated preliminary 2012 Financial Results. Among, other things, UniTek Global Services Inc also announced that it will restate its financial results for the interim periods ended March 31, 2012, June 30, 2012and September 29, 2012, the fiscal year ended December 31, 2011 and the interim period ended October 1, 2011. UniTek Global Services Inc said that as a result of an ongoing internal investigation being conducted by the Audit Committee of the Company's Board of Directors, with the assistance of outside independent counsel and a forensic accounting firm, it was determined that several employees of the Company's Pinnacle Wireless subsidiary engaged in fraudulent activities that resulted in improper revenue recognition.
The company also announced that its Chief Financial Officer and Treasurer, the Controller and Chief Accounting Officer, as well as the President of the Pinnacle Wireless division, and several other employees of Pinnacle Wireless and an employee of the UniTek finance department have been terminated from their positions with the company.
Shares of UniTek Global Services Inc. (NASDAQ:UNTK) declined from slightly over $3 per share on April 12, 2013 to as low as $0.95 per share on April 15, 2013.
On June 3, 2013, NASDAQ:UNTK shares closed at $1.77 per share.
Those who purchased shares of UniTek Global Services Inc. (NASDAQ:UNTK) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego