Shareholder Rights Law Firm Johnson & Weaver, LLP today announced that
it is continuing to investigate whether certain officers or directors of
Uni-Pixel, Inc. (UNXL)
violated state or federal laws following the December 30, 2013
announcement that Reed Killion resigned as CEO and as a director of the
Mr. Killion's resignation follows the company's November 22, 2013
announcement that the Securities and Exchange Commission issued
subpoenas related to its InTouch Sensors Technology. On news of the SEC
subpoenas, shares of Uni-Pixel plummeted approximately 22 percent. The
company also faces a class action lawsuit filed on behalf of
shareholders who purchased Uni-Pixel between December 7, 2012 and May
31, 2013 (the "Class Period"). The shareholder lass action alleges that
during the Class Period, defendants issued materially false and
misleading statements regarding the company's financial performance and
future prospects, 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.
Just prior to the class action lawsuit being filed, Uni-Pixel stock
traded as high as $41.00 per share. Today, however, the stock opened at
just $9.79 per share.
If you have held Uni-Pixel shares continuously prior to December 2012,
you may have standing to hold the Company harmless from the damage the
officers and directors caused by making them personally responsible. You
may also be able to assist in reforming the Company's corporate
governance to prevent future wrongdoing.
If you are a Uni-Pixel shareholder interested in learning more about the
investigation, your legal rights and remedies or if you have information
that may assist in our investigation, please contact lead analyst Jim
at 619-230-0063 Ext.118.
Johnson & Weaver, LLP is a nationally recognized shareholders' rights
law firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
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