News Column

Lawsuit dismissed against Unilife Corp.

January 23, 2014

By Lauren Boyer, York Daily Record, Pa.

Jan. 23 --A shareholder class action lawsuit against Conewago Township -based Unilife Corporation has been dropped by the plaintiff. Last year, Talbot Smith , an ex-employee of the company, sued Unilife , including CEO Alan Shortall and chief operating officer Ramin Mojdeh , alleging the fraud and violations of federal securities laws. The notice of voluntary dismissal was filed by the plaintiff after no additional shareholders of the company petitioned the court to serve as lead plaintiff in the lawsuit before the Dec. 31 , according to a news release from Unilife . In the news release, Unilife , a manufacturer of syringes, said the company has always considered the lawsuit to be "frivolous and based mainly on the meritless allegations made by a former employee of the company." Smith, who lives in New Jersey , filed the suit in August in U.S. District Court . According the court documents, Smith was hired in September 2011 as vice president for integrated supply chain at Unilife . His employment was terminated in August 2012 "after he made whistleblowing complaints about violations of the law that had occurred or were about to occur" and provided information to the U.S. Securities and Exchange Commission , according to court documents. The company denied the allegations, which ranged from false information Smith believed the company had given to the media to the purchasing of materials to make supplier believe Unilife was manufacturing at a high volume. Unilife traces its local manufacturing roots back to 2006 when it bought Integrated BioSciences in Lewisberry . Three years later, it moved its corporate headquarters from Australia to the Fairview Industrial Park . At the time, former Gov. Ed Rendell pledged his support in an agreement that brought about $5.4 million in state grants and loans to the company. Unilife moved to Conewago Township in 2011. Unilife under investigation for securities violations Read about a Daily Record/Sunday News tour of the company in 2011 Unilife responds to lawsuit in letter to shareholders ___ (c)2014 York Daily Record (York, Pa.) Visit York Daily Record (York, Pa.) at www.ydr.com Distributed by MCT Information Services


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Source: York Daily Record (PA)


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