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Unisys Corporation?
Attention Unisys shareholders: contact investor rights lawyers for a free evaluation of your potential claims for compensation today.
- Did you acquire shares of Unisys Corporation (NYSE: UIS) in or before February 2022, and do you still hold your Unisys shares?
- Are you concerned about the recent performance of Unisys’s stock price?
- Are you concerned about the conduct of Unisys’s officers and directors related to Unisys’ alleged deficient internal controls over financial reporting?
- Would you like your potential options for compensation and/or redress to be reviewed by an experienced team of investor lawyers?
Request a free case evaluation of your potential claims for compensation today, via email at arosca@rscounsel.law, through the contact form on this page, or by calling 888-998-0530.
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Posted November 10, 2023
Unisys Class Action Investigation
Securities attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner have been investigating potential securities violations and corporate misconduct, as well as questionable business practices involving Unisys Corporation and have identified potential areas of concern for Unisys investors.
What Unisys Investors May Do
UIS investors interested in an evaluation of their potential options to seek compensation and/or pursue claims related to their Unisys Corporation investment may contact investor rights attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner. Claims that are not timely pursued may expire or otherwise be lost, generally speaking.
Get in Touch with an Experienced Team of Investor Attorneys
Attorneys Rosca, Scarlato, and Weidner have extensive experience in seeking compensation related to investor harm and pursuing claims arising out of alleged violations of securities law and/or corporate misconduct, and are currently evaluating potential claims on behalf of investors in Unisys Corporation.
They typically work on a contingent fee basis, do not require any money down from their clients, advance case expenses, and only get paid for their fees and expenses if and when successful, following review and approval by the Court of any fee application.
Concerned UIS stock investors may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to discuss their potential options toll free at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Potential Compensation Claims
Has Unisys Corporation Been Accused of Misconduct?
Unisys Corporation (“Unisys”) and several of its executives (Peter A. Altabef, Debra Winkler McCann, and Michael M. Thomson) have been the subject of a class action lawsuit, filed in the United States District Court for the Eastern District of Pennsylvania in November 2022.
Unisys and members of its senior leadership are accused in class action lawsuit of, among others, violating securities laws by allegedly making materially false and/or misleading statements and failing to disclose materially adverse facts that allegedly caused Unisys’s stock to trade at artificially inflated prices. According to the complaint, Unisys allegedly misrepresented the effectiveness of the company’s disclosure and internal controls over financial reporting while repeatedly assuring investors of the opposite.
Has the UIS Stock Price Dropped?
On November 7, 2022, Unisys issued a press release informing of its inability to timely file its quarterly report due to an internal investigation by the Audit & Finance Committee of the Company’s Board of Directors into “certain disclosure controls and procedures matters, including, but not limited to, the dissemination and communication of information within certain parts of the organization”. Following the news, the price per UIS share allegedly lost almost half of its value to close at $4.89 on November 8, 2022.
Two weeks later, on November 21, 2022, Unisys reportedly announced in an 8-K report that the Audit Committee concluded its investigation and identified material weaknesses “related to the design and maintenance of effective formal policies and procedures over information being communicated by the IT function and the legal and compliance function to those responsible for governance, including the Chief Executive Officer and Chief Financial Officer, to allow timely decisions related to both financial reporting and other non-financial reporting in the reports that the Company files.” The company further informed investors that its disclosure controls and procedures were not effective as of December 31, 2021, March 31, 2022, and June 30, 2022, and that Unisys’s internal control over financial reporting was not effective as of December 31, 2021. On the same day the price per UIS share closed at $4.34.
Data by Yahoo Finance shows that despite slight fluctuations the UIS stock price has not recovered since, and on November 9, 2023, the price per UIS share reportedly closed at $4.01.
Potential Compensation Claims
What Happened to Unysis’s Directors and Officers?
On April 3, 2023, the company reportedly announced the departure of its Vice President, Chief Accounting Officer and Corporate Controller and principal accounting officer, Erin Mannix. A few weeks later, on May 30, 2023, Unisys announced the departure of Claudius Sokenu, Unisys Corporation’s Senior Vice President, General Counsel, Corporate Secretary and Chief Administrative Officer, effective June 30, 2023.
Do Unisys Shareholders Have Claims for Compensation?
Investor rights attorneys Alan Rosca, Paul Scarlato, and Kathryn Weidner at Rosca Scarlato are investigating potential options and evaluating potential claims for compensation and/or other redress on behalf of Unisys’s long-term shareholders whose share value dropped following the internal investigation over company’s controls. The Rosca Scarlato attorneys have decades of combined experience representing victims of corporate or financial misconduct.
If you are a Unisys investor who has acquired UIS shares before February 2022 and are concerned about the drop in the value of your investment, you may contact attorneys Alan Rosca, Paul Scarlato, or Kathryn Weidner to learn more about your rights and for an evaluation of your potential claims, or to provide useful information.
All consultations are free. The Rosca Scarlato attorneys typically take cases like this on a contingency fee basis, advance all case costs, and only get paid for their fees and expenses if and when they are successful, following review and approval by the Court of any fee application.
To reach attorney Alan Rosca or his colleagues, Unisys investors may call 888-998-0530, email arosca@rscounsel.law, or leave a message through the contact form on this webpage.
The general considerations on this page are for informational purposes only and do not constitute legal advice. Such legal advice can only be offered once the attorneys discuss each investor’s situation, learn of the relevant facts and can tailor any advice to that investor’s facts. The Unisys Class Action Investigation page is not affiliated with Unisys Corporation There has not been an adjudication on the merits of any allegations referenced in this blog post, as of the date of the posting.
Contact info:
Rosca Scarlato LLC – 216-946-7070 / 888-998-0530.
Alan Rosca – arosca@rscounsel.law
Paul Scarlato – pscarlato@rscounsel.law
Kathryn Weidner – kweidner@rscounsel.law
Recent Investigations
DISCLAIMER
In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.
