class action filed

http://www.nasdaq.com/press-release/rigrodsky--long-pa-announces-a-securities-fraud-class-action-lawsuit-has-been-filed-against-unilife-corporation-20131101-00979

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company's Unifill syringes failed to comply with the Food and Drug Administration's ("FDA") validation processes (2) the Company's Quality Management System failed to comply with FDA regulations; (3) the Company purposefully increased its purchases of Unifill component parts to make suppliers believe that Unilife was producing at increased volumes despite the fact that there was no customer demand or manufacturing capacity to support such purchases; and (4) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

Read more: http://www.nasdaq.com/press-release/pomerantz-law-firm-has-filed-a-class-action-against-unilife-corporation-and-certain-officers----unis-20131101-00816#ixzz2jgxnw0d5