Investigation of Unisys Corporation (UIS) Announced By Nationally Ranked Investors’ Rights Firm Holzer & Holzer, LLC

Rhea-AI Summary

Unisys Corporation (NYSE: UIS) is under investigation by Holzer & Holzer, LLC for potential violations of federal securities laws. Following its announcement on November 7, 2022, that it could not file its 10-Q quarterly report for the quarter ended September 30, 2022, the company reported a significant loss of $40.1 million in Q3. Furthermore, Unisys is looking into potential weaknesses in its internal controls over financial reporting. The news led to a drop in the company's stock price.

Positive

• None.

Negative

• Inability to file the 10-Q report timely.
• Reported a loss of $40.1 million in Q3.
• Possible material weaknesses in internal control over financial reporting.

ATLANTA, GA / ACCESSWIRE / November 8, 2022 / - - Holzer & Holzer, LLC is investigating whether Unisys Corporation ("Unisys" or the "Company") (NYSE:UIS) complied with federal securities laws. On November 7, 2022, Unisys announced it is unable to file its quarterly report on Form 10-Q for the quarter ended September 30, 2022 within the prescribed time period, that the Company lost $40.1 million in the third quarter, and that Unisys is conducting an investigation into "certain disclosure controls and procedures matters, including…the dissemination and communication of information...and expects that it may determine that there are one or more material weaknesses in its internal control over financial reporting[.]" Following this announcement, the Company's stock price dropped.

If you purchased Unisys stock and suffered a loss on that investment, you are encouraged to contact Corey Holzer, Esq. at cholzer@holzerlaw.com  or Joshua Karr, Esq. at jkarr@holzerlaw.com, call our toll-free number at (888) 508-6832, or visit our website at https://holzerlaw.com/case/unisys/  to discuss your legal rights. 

Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct.More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content. 

CONTACT: 

Corey Holzer, Esq. 
(888) 508-6832 (toll-free) 
cholzer@holzerlaw.com

SOURCE: Holzer & Holzer

View source version on accesswire.com:
https://www.accesswire.com/724584/Investigation-of-Unisys-Corporation-UIS-Announced-By-Nationally-Ranked-Investors-Rights-Firm-Holzer-Holzer-LLC

FAQ

Why is Unisys under investigation?

Unisys is under investigation due to potential violations of federal securities laws related to its inability to file the quarterly report and significant financial losses.

What were Unisys's losses in Q3 2022?

Unisys reported a loss of $40.1 million for the third quarter of 2022.

What issues is Unisys facing with its financial reporting?

Unisys is investigating potential material weaknesses in its internal control over financial reporting.

How did the announcement affect Unisys's stock price?

Following the announcement, Unisys's stock price experienced a decline.

What is the date of Unisys's press release regarding the investigation?

The press release regarding the investigation was issued on November 7, 2022.