Unisys Corp.'s second-quarter financial results this year were misleadingly positive, setting up its stock for a price crash when the company announced an internal investigation, an investor says in a proposed class action.
The information technology services giant revealed after the stock market closed Nov. 7 that its audit department had begun a probe and that its required third-quarter filings with the US Securities and Exchange Commission would be delayed, according to the complaint, filed Nov. 11 in the US District Court for the Eastern District of Pennsylvania.
The day after the announcement, market trading nearly halved the company’s stock ...
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