NEW YORK, April 22, 2013 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities who purchased the common stock of UniTek Global Services, Inc. ("UniTek" or the "Company") (Nasdaq:UNTK) between May 18, 2011 through April 12, 2013, seeking remedies under the federal securities laws.
The Complaint alleges that throughout the Class Period Defendants made materially false and misleading statements and omissions regarding the Company's financial condition and prospects as well as its internal controls. On Friday, April 12, 2013, after the close of the financial markets, the Company announced that it would need to restate its previously-issued financial results dating back to 2011. The Company also admitted that several employees had engaged in fraudulent activities that resulted in improper revenue recognition. The Company further disclosed that the Chief Financial Officer and the Chief Accounting Officers, as well as several other employees, had been immediately terminated from their positions with the Company.
If you wish to serve as lead plaintiff, you must move the Court no later than June 18, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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CONTACT: Gainey McKenna & Egleston (212) 983-1300Source:Gainey McKenna& Egleston