Unilife Corporation (UNIS) Hits Back at Short-Sellers

NEW YORK (TheStreet) -- Unilife Corporation (UNIS) has issued a response to a series of articles published against the company this week. 

In a statement Wednesday, the developer of injectable drug systems said the blogs posted on Seeking Alpha contained "false and misleading information" and that it had requested the SEC investigate the short-sellers for stock manipulation and illicit gains. 

SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell'...you could potentially lose EVERYTHING in the next 6-12 months. Learn more.

"Most of these allegations relate to a wrongful termination lawsuit by a former employee who was terminated "for cause," and the related SEC review of the matter, which Unilife first disclosed more than 18 months ago and has repeated in subsequent regulatory filings and earnings calls," the company said in the statement.

Unilife also said no officer has sold stock since the company listed in 2010 and that both the CEO and COO have purchased in excess of $4 million in stock in recent years. 

By late afternoon Wednesday, shares had added 11.3% to $3.55, recouping losses suffered over Tuesday's session. 

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

If you liked this article you might like

Stocks Under $10 Portfolio: ON Semi and McDermott Make Bold Moves

Stocks Under $10 Portfolio: Tax-Loss Selling Weighs on Indices

Stocks Under $10 Portfolio: Bulls Catch Another Wave in an Endless Summer

Stocks Under $10: Friday 13 Turns Good Luck to Bad

Stocks Under $10: Friday 13 Turns Good Luck to Bad

Unilife (UNIS) Stock Soars on Amgen Partnership