STEVENSON, Md., June 7, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Uni-Pixel, Inc. ("Uni-Pixel" or the "Company") (Nasdaq:UNXL) common stock during the period between December 7, 2012 and May 31, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Uni-Pixel, Inc. common stock purchased on or after December 7, 2012, and held through any of the revelations of negative information on May, 11, 2013, May 19, 2013, May 20, 2013, and May 31, 2013, as described below, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than August 5, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the terms of Uni-Pixel's purported licensing and/or manufacturing and supply agreements with a "Major PC Maker," a "Major Ecosystem Partner," and Kodak were either immaterial or legally unenforceable, and that there were significant design defects in the Company's UniBoss product. According to the complaint, following a May 11, 2013 article in Barrons that suggested investors should be wary of the Company's rising stock price in light of "hefty competition and a history of product disappointments," a May 19, 2013 investigative report that stated that Kodak had deemed the purported agreement with Uni-Pixel to be so insignificant that it had not filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission, the Company's May 20, 2013 disclosure that the "Major PC Maker" had reported delays with its operating system software that would delay the appearance of products utilizing the Company's UniBoss technology, and a May 31, 2013 Seeking Alpha report that raised significant quality issues with the touch mesh employed in the UniBoss, the value of Uni-Pixel shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 email@example.comSource: Brower Piven, A Professional Corporation