The complaint alleges that the price of Uni-Pixel stock dropped during the second half of May 2013, following a number of articles and disclosures about the Company, including:
- A May 11, 2013 Barrons article entitled "Out of Touch? Uni-Pixel shares have rallied sharply on the company's hopes for its touchscreen technology. But hefty competition, and a history of product disappointments, suggest investors should be wary."
- A May 20, 2013 disclosure by Uni-Pixel that the "Major PC Maker" had reported delays with associated operating system software that would delay the appearance of products utilizing UniBoss technology from the third quarter of 2013 into the fourth quarter of 2013; and
- The issuance of several investigative reporting pieces, with one on May 19, 2013, specifically emphasizing that Kodak had deemed a purported agreement with Uni-Pixel to be so insignificant that it had not even bothered to file a Current Report on Form 8-K with the SEC announcing it.
This news allegedly caused the price of Uni-Pixel stock to begin dropping, falling to $19.78 per share by the close of trading on May 30, 2013, on usually high trading volume.
On May 31, 2013, the price of Uni-Pixel stock dropped almost 24% on the issuance of a Seeking Alpha report raising significant quality issues with the touch mesh employed in the UniBoss. The price of Uni-Pixel stock fell from its May 30, 2013 closing price of $19.78 per share to close $15.21 on May 31, 2013, a decline of $4.57 per share, on extremely high volume.
Cohen Milstein encourages all investors who purchased Uni-Pixel common stock between December 7, 2012 and May 31, 2013 or former employees with information concerning this matter to contact the firm.If you are a Uni-Pixel shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at email@example.com. If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2013 to request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the Court must decide that your claim is typical of the claims of other class members, and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers & Toll PLLC or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member. Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting investor class actions and actions involving securities fraud. The firm has offices in Washington, D.C., New York, Chicago, Philadelphia and Palm Beach Gardens, and is active in major litigation pending in federal and state courts throughout the nation.