NEW YORK, Dec. 23, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that a class action lawsuit has been filed against Unisys (“Unisys” or the “Company”). ) UIS in the United States District Court for the Eastern District of Pennsylvania on behalf of all individuals and entities that purchased or otherwise acquired Unisys Securities between and including both dates of August 3, 2022 and November 7, 2022 (the “Collection Period”). Investors have until January 10, 2023 to petition the court to be named lead plaintiff in the lawsuit.

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Unisys, together with its subsidiaries, operates worldwide as an IT services company. The company is active in Digital Workplace Solutions (DWS); cloud and infrastructure solutions (C&I); and Enterprise Computing Solutions (ECS) segments.

On August 3, 2022, in a press release announcing the Company’s second quarter 2022 financial results, the Company provided its financial guidance for 2022, stating in the relevant part, “[r]Earnings growth is now expected to be in the range of (1.0)% to 1.0% year-on-year or in the range of 2.5% to 4.5% in constant currencies. The Company now expects non-GAAP operating income margin to be between 7.5% and 9.0% and Adjusted EBITDA margin to be between 16.0% and 17.5%.”

Throughout the class period, the defendants made materially false and misleading statements about the Company’s business, operations and prospects. In particular, Defendants have made false and/or misleading statements and/or failed to disclose that: (i) the Company’s financial guidance for 2022 was materially overstated; (ii) accordingly, it was likely that the Company would have to negatively revise its 2022 financial guidance once the truth emerged; (iii) in addition to the foregoing, there were material weaknesses in the Company’s internal control over financial reporting; and (iv) as a result of the foregoing, the Company…