YORK, Pa., April 22, 2014 /PRNewswire/ -- Unilife
Corporation ("Unilife" or "Company") (NASDAQ: UNIS, ASX: UNS) today
issued a response on behalf of its shareholders in relation to a
series of malicious blogs containing false and misleading
information published over recent months by short sellers on the
Seeking Alpha website.
Unilife has requested that the SEC investigate these short
sellers and their associates for stock manipulation and illicit
gains. Unilife categorically refutes any allegations of wrong-doing
by the Company, its directors, officers and management. In
particular, Unilife would like to address the following:
Most of these allegations relate to a wrongful termination
lawsuit by a former employee who was terminated "for cause," and
the related SEC review of the matter, which Unilife first disclosed
more than 18 months ago and has repeated in subsequent regulatory
filings and earnings calls.
Unilife has refuted these allegations, declined a settlement
offer by the plaintiff, and expects to prevail should the case
proceed to trial. Unilife has co-operated fully with the SEC in its
review, provided extensive information, and responded to all
questions. Unilife does not believe that there are any
grounds for any action to be taken against the Company.
Unilife has never paid anyone to publish articles about it. No
officer has ever sold Unilife stock since the Company listed on
NASDAQ in 2010, with the CEO and COO having purchased in excess of
$4 million in Unilife stock in recent
years. The CFO's departure was not due to a resignation but part of
a long-term succession plan. Mr. Shortall has never been a director
or officer of a Company that has failed, or gone bankrupt. Unilife
has successfully been through numerous due diligence processes
conducted by multiple global pharmaceutical customers, investors,
analysts, financial auditors and regulatory bodies. By way of
example, Unilife last month completed a $60
million non-dilutive debt financing with OrbiMed, the
world's largest healthcare-dedicated investor. OrbiMed, together
with its outside experts and advisors, undertook extensive due
diligence over several months into all aspects of the Unilife
business including its products, staff, patents, contracts and
commercial pipeline.
Unilife encourages the SEC to act quickly to address these
illegal actions by the relevant short sellers and their
associates. Unilife's team, which is now more than 190 strong
and consisting of some of the most highly qualified industry
experts, will continue to drive the business, serve existing and
new customers and build shareholder value.
About Unilife Corporation
Unilife Corporation
(NASDAQ: UNIS / ASX: UNS) is a U.S. based developer and commercial
supplier of injectable drug delivery systems. Unilife's broad
portfolio of proprietary technologies includes prefilled syringes
with automatic needle retraction, drug reconstitution delivery
systems, auto-injectors, wearable injectors, ocular delivery
systems and novel systems. Each of these innovative and highly
differentiated platforms can be customized to address specific
customer, drug and patient requirements. Unilife's global
headquarters and manufacturing facilities are located in
York, PA. For more information,
please visit www.unilife.com or download the Unilife IRapp on your
iPhone, iPad or Android device.
Forward-Looking Statements
This press release
contains forward-looking statements. All statements that address
operating performance, events or developments that we expect or
anticipate will occur in the future are forward-looking statements.
These forward-looking statements are based on management's beliefs
and assumptions and on information currently available to our
management. Our management believes that these forward-looking
statements are reasonable as and when made. However, you should not
place undue reliance on any such forward-looking statements because
such statements speak only as of the date when made. We do not
undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. In addition,
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results, events and
developments to differ materially from our historical experience
and our present expectations or projections. These risks and
uncertainties include, but are not limited to, those described in
"Item 1A. Risk Factors" and elsewhere in our Annual Report on Form
10-K and those described from time to time in other reports which
we file with the Securities and Exchange Commission.
General: UNIS-G
Investor
Contacts (US):
|
Analyst
Enquiries
|
Investor
Contacts (AUS)
|
Todd Fromer / Garth
Russell
|
Lynn
Pieper
|
Jeff
Carter
|
KCSA Strategic
Communications
|
Westwicke
Partners
|
Unilife
Corporation
|
P: + 1 212-896-1215 /
212-896-1250
|
P: + 1
415-202-5678
|
P: + 61 2 8346
6500
|
SOURCE Unilife Corporation