NEW YORK, Dec. 02, 2022 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Unisys Corporation (“Unisys” or the “Company”) (NYSE: UIS). A class action complaint has been filed on behalf of investors that purchased or otherwise acquired Unisys securities between August 3, 2022 and November 7, 2022, inclusive (the “Class Period”).
If you would like to discuss this case or our investigation, please contact us by emailing jcampisi@kaplanfox.com or by calling (212) 329-8571. Or click here.
If you are a member of the proposed Class, you may move the court no later than January 10, 2023 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On November 8, 2022, Unisys disclosed that it is “is unable to file, without unreasonable effort and expense and within the prescribed time period, its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 (the “Form 10-Q”).
According to the complaint, on November 7, 2022, post-market, Unisys issued a press release disclosing that the Company was lowering its previously stated 2022 financial guidance by a significant margin and that it would be “unable to file, without unreasonable effort and expense and within the prescribed time period, its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 (the ‘Form 10-Q’).”
Specifically, the November 7 press release stated that the Company’s Audit and Finance Committee “is conducting an internal investigation regarding certain disclosure controls and procedures matters” and that “[f]ollowing the evaluation of the results of the investigation, the Company expects that it may determine that there are one or more material weaknesses in its internal control over financial reporting, which may result in a conclusion that the Company’s disclosure controls and procedures and internal control over financial reporting are not effective.”
On November 8, 2022, Unisys shares declined from a closing price on November 7, 2022 of $8.96 per share, to close at $4.58 per share, a decline of $4.38 per share, or over 48%, on very high volume.
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If you have any questions about this investigation, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 329-8571
E-mail: jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
