Unilife Corporation is a U.S. based developer, manufacturer and supplier of injectable drug delivery systems.

According to the law firm press release, the lawsuit 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: (1) that the Company’s former CEO and former Chairman of the Board of Directors had violated the Company’s policies and procedures and had engaged in violations of law and regulation; (2) that the Company lacked adequate internal controls over accounting and financial reporting; (3) that, as a result, 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; and (4) that, as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about Unilife’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

An amended Complaint was filed on July 22, 2016.

On August 24, 2016, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiffs filed a consolidated Complaint on October 24.

The parties entered into a Stipulation of Settlement on March 22, 2017. Preliminary approval was granted on September 22. On January 25, 2018, the Court granted final approval of the settlement and entered Final Judgment. On December 4, the Court issued an Order granting authorization to distribute the net Settlement fund.