Gibbs Law Group Investigates Potential Securities Law Violations
Shares of Unisys plummeted 49% on Tuesday, November 8, 2022, after the company admitted that it would not be able to file its third quarter 2022 financial results due to an internal investigation regarding “certain disclosure controls and procedures matters,” which may uncover material weaknesses in its internal control over financial reporting. Gibbs Law Group is looking into a potential Unisys Securities Class Action Lawsuit on behalf of investors who lost money in Unisys Corporation (NYSE: UIS).
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On Tuesday, November 8, 2022, information technology services and consulting company Unisys Corporation released its Q3 results for 2022, revealing that it had missed revenue and earnings estimates and lowered its full year guidance for 2023. Unisys also admitted that it will be unable to file its third quarter financial results on time due to an ongoing internal investigation regarding “certain disclosure controls and procedures matters, including, but not limited to, the dissemination and communication of information within certain parts of the organization.” Unisys added that it expects that the investigation may determine that there were “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.”
Following this news, Unisys stock plummeted 49%, closing at $4.63 on November 8, 2022, causing significant harm to investors.
What Should Unisys Investors Do?
If you invested in Unisys, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Unisys Corporation has violated federal securities laws.
About Gibbs Law Group
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221109005956/en/
EILEEN EPSTEIN CARNEY