Morgan & Morgan Announces that Securities Class Action Lawsuits Have Been Filed Against Uni-Pixel, Inc.
NEW YORK, June 10, 2013 /PRNewswire/ -- Morgan & Morgan announces that two class action lawsuits have been filed in the United States District Court for the Southern District of New York and in the United States District Court for the Southern District of Texas 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 purchased Uni-Pixel during the Class Period, you may, no later than August 5, 2013, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported 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 class member.
The complaints allege that throughout the Class Period, Defendants made materially false and/or misleading statements as well as failed to disclose material adverse facts about the Company's business, operations and prospects. Specifically, Defendants made false and/or misleading statements concerning: (1) the nature and commercial potential of the agreements recently entered into by Uni-Pixel with other companies to develop, manufacture and distribute UniBoss; and (2) Uni-Pixel's ability to successfully produce UniBoss in commercially meaningful volumes without serious mechanical failures, and at the price points and margins projected by management.
The complaints further allege that the market price of Uni-Pixel's common stock declined in May, 2013 as the market learned that the Company's 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 at $15.21 per share on May 31, 2013.
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