NEW YORK, April 23, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased UniTek Global Services, Inc. ("UniTek" or the "Company") (Nasdaq:UNTK) stock between May 18, 2011 and April 12, 2013 (the "Class Period").
For more information, click here: http://zlk.9nl.com/unitek-global-untk/.
The complaint alleges that throughout the Class Period defendants issued false and misleading statements and failed to disclose that: (a) the Company's financial statements did not provide a fair presentation of the Company's finances and operations; (b) the Company's subsidiary, Pinnacle Wireless, engaged in fraudulent activities that resulted in improper revenue recognition; (c) the Company's internal accounting controls were deficient and permitted the improper recognition of revenue; and (d) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.
On April 12, 2013, UniTek disclosed that it will restate its financial results for the interim periods ended March 2012, June 2012 and September 29, 2012, as well as for the fiscal year ended December 2011 and the interim period ended October 1, 2011. UniTek also announced that it had terminated Ronald Lejman, its CFO and Treasurer, Kevin McClelland, controller and chief accounting officer, and several other employees.
If you suffered a loss in UniTek you have until June 18, 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 email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/unitek-global-untk/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, 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: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP