Thieler Law Corp advises investors with losses exceeding $100,000 of the July 25, 2016 lead plaintiff deadline in a class action lawsuit filed against Unilife Corporation (NASDAQ: UNIS) (“Unilife” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Unilife Corporation securities between February 3, 2014 and May 23, 2016, have until July 25, 2016 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Unilife Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that that the Company’s former CEO and former Chairman of the Board of Directors had violated the Company’s policies and procedures and had engaged in violations of law and regulation; that the Company lacked adequate internal controls over accounting and financial reporting; that, as a result, the Company would be unable to file its Quarterly Report on Form 10-Q for the period ended March 31, 2016 by the prescribed filing deadline; and that, as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about Unilife’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On May 8, 2016, Unilife Corporation revealed it would postpone its earnings conference call, scheduled for the following day, due to "the discovery by the Company's current management team of violations of Company policies and procedures and possible violations of law and regulation by the Company's former Chief Executive Officer and by the former Chairman of the Company's Board of Directors who resigned in 2015." 

Following this news, NASDAQ: UNIS dropped 29.41% on May 9, 2016. 

On May 23, 2016, post-market, Unilife revealed receipt of a letter from NASDAQ, notifying the Company that it is no longer in compliance with NASDAQ listing requirements.

Following this news, NASDAQ: UNIS dropped 10% from its previous closing price on May 24, 2016.

If you were negatively impacted by your investment in Unilife Corporation securities between February 3, 2014 and May 23, 2016 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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