An investigation on behalf of investors in NASDAQ:UNIS shares over potential wrongdoing at Unilife Corp was announced and NASDAQ:UNIS stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/17/2016 -- An investigation on behalf of investors in shares of Unilife Corp (NASDAQ:UNIS) was announced over potential breaches of fiduciary duties by certain directors at Unilife Corp.
Investors who purchased shares of Unilife Corp (NASDAQ:UNIS) and currently hold any of those NASDAQ:UNIS shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm concerns whether certain Unilife Corp directors breached their fiduciary duties and caused damage to the company and its shareholders.
On May 9, 2016, Unilife Corp announced that it was postponing its earnings call due to the discovery by the Company's current management team of violations of Company policies and procedures and possible violations of law and regulation by the Company's former Chief Executive Officer and by the former Chairman of the Company's Board of Directors who resigned in 2015.
Shares of Unilife Corp (NASDAQ:UNIS) split 1:10 on May 13, 2016.
On May 23, 2016, Unilife announced that it has received a deficiency letter from NASDAQ for failing to file its financial reports within the required period.
On May 24, 2016, NASDAQ:UNIS shares declined to as low as $2.31 per share.
On May 26, 2016 a lawsuit was filed against Unilife Corp over alleged securities laws violations. The plaintiff claimed that the Defendants made false and/or misleading statements and/or failed to disclose that the Company's former CEO and former Chairman of the Board of Directors had violated the Company's policies and procedures and had engaged in violations of law and regulation, that the Company lacked adequate internal controls over accounting and financial reporting, that, as a result, the Company would be unable to file its Quarterly Report on Form 10-Q for the period ended March 31, 2016 by the prescribed filing deadline, and that, as a result of the foregoing, the Company's financial statements, as well as Defendants' statements about Unilife's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Those who purchased shares of Unilife Corp have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego