NEW YORK, May 25, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Unilife Corporation ("Unilife" or the "Company") (NASDAQ: UNIS). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Unilife and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 8, 2016, Unilife announced it would postpone its earnings conference call, scheduled for the following day, 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." On this news, Unilife stock fell $0.15, or 29.41%, to close at $0.36 on May 9, 2016. On May 23, 2016, post-market, Unilife announced receipt of a letter from NASDAQ, notifying the Company that it is no longer in compliance with NASDAQ listing requirements.
On this news, Unilife stock fell $0.31, or 10.51%, to close at $2.64 on May 24, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP