Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Uni-Pixel, Inc. (“Uni-Pixel”, “UniPixel” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. A class action lawsuit was filed in the U.S. District Court for the Southern District of New York by another law firm on behalf of purchasers of the common stock of Uni-Pixel, Inc. (NASDAQ: UNXL) between December 7, 2012 and May 31, 2013, inclusive (the “Class Period”). The complaint alleges that Uni-Pixel and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) the terms of a purported December 2012 licensing agreement with a "Major PC Maker", a purported April 2013 licensing agreement with a "Major Ecosystem Partner", and a purported April 2013 manufacture and supply agreement with Kodak were either immaterial or legally unenforceable; (2) there were significant design defects in the UniBoss technology; and (3) as a result, Defendants knew the Company's projected sales and earnings were unattainable. The Class Period starts on December 7, 2012. Before the opening of trading that day, Uni-Pixel issued a press release entitled "UniPixel and Major PC Maker Enter Multi-Million Dollar Preferred Price and Capacity License Agreement to Introduce Products With UniBoss-Based Touch Screens." The press release stated, in pertinent part, that Uni-Pixel had "joined forces with a manufacturer of personal computers to develop and introduce products that feature next-generation touch screens based on UniPixel's UniBoss pro-cap, multi-touch sensor film"; that "UniPixel ha[d] granted the PC maker a limited exclusive license in the notebook market segment for UniBoss Performance Engineered Film technology that provide[d] the licensee priority development, dedicated production capacity and preferred pricing"; and that "[t]he license [could] be extended to the PC maker's supply chain, including third-party manufacturing partners, touch panel module manufactures, controller manufactures, LCD makers and original design manufacturers." The Company also said that the specific "terms of the agreement and name of the PC maker [would remain] confidential," but through its CEO and President, Uni-Pixel affirmatively stated in the press release that the "preferred price and capacity license agreement further[ed] UniPixel's stated go-to-market strategy."
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.
The firm’s reputation for excellence has repeatedly been recognized by courts which have appointed the firm to lead positions in complex multi-district or consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total over a billion dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following: Steven J. Toll, Esq.Asha WilliamsCohen Milstein Sellers & Toll PLLC1100 New York Avenue, N.W.West Tower, Suite 500Washington, D.C. 20005Telephone: (888) 240-0775 or (202) 408-4600Email: firstname.lastname@example.org; email@example.com Attorney Advertising