STEVENSON, Md., July 18, 2016 (GLOBE NEWSWIRE) -- The securities litigation law firm of 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 Unilife Corporation (NASDAQ:UNIS) (“Unilife” or the “Company”) securities
during the period between February 3, 2014 and May 23, 2016, inclusive (the “Class Period”). Investors with losses in excess
of $100,000 who wish to become proactively involved in the litigation have until July 25, 2016 to seek appointment as lead
plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and
be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including
whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Unilife securities during the Class Period. Members of the Class will be
represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above
action.
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 Company’s former Chief Executive Officer (“CEO”) and former
Chairman of the Board of Directors (“Board”) had violated the Company’s policies and procedures and had engaged in violations of
law and regulation, the Company lacked adequate internal controls over accounting and financial reporting, and 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.
According to the complaint, following a May 8, 2016 announcement that the Company was postponing its earnings
conference call due to the discovery of violations of Company policies and procedures and possible violations of law and regulation
by the Company’s former CEO and former Chairman of the Board, that the Company was investigating the issues’ potential impact on
financial reporting and internal controls, and that the Company expected to delay filing its quarterly Form 10-Q, a May 11, 2016
filing of a Notification of Late Filing, and a May 23, 2016 announcement that the Company was not in compliance with a NASDAQ
listing rule, the value of Unilife shares declined significantly.
If you have suffered a loss from investment in Unilife securities purchased on or after February 3, 2014 and
held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about
this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentsecuritiescases.html. You may also request more
information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also encourages
anyone with information regarding the Company’s conduct during the period in question to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and
have been advocating for the rights of shareholders since the 1980s. 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 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
