NEW YORK, Nov. 5, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Middle District of Pennsylvania on behalf of investors who purchased Unilife Corporation ("Unilife" or the "Company") (Nasdaq:UNIS) common stock between July 13, 2011 and September 9, 2013.
For more information, click here: http://zlk.9nl.com/unilife-unis/.
The complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that: (a) the Company's Unilife syringes failed to comply with the Food and Drug Administration's ("FDA") validation processes; (b) the Company's Quality Management System failed to comply with FDA regulations; and (c) the Company purposefully increased its purchases of Unilife component parts to make suppliers believe Unilife was producing at increased volumes despite a lack of customer demand or manufacturing capacity to support such purchases.
On August 30, 2013, a former Unilife employee filed a "whistleblower" lawsuit alleging that his employment was terminated after he reported regulatory violations to the appropriate authorities. Then on September 3, 2013, Forbes published an article that stated the Company's main manufacturing facility was operating at 3% capacity; upon this news shares of Unilife fell more than 14 percent.
If you suffered a loss in Unilife you have until December 31, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/unilife-unis/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP