San Diego, CA -- (SBWIRE) -- 04/22/2013 -- An investor in shares of UniTek Global Services Inc. (NASDAQ:UNTK) filed lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by UniTek Global Services Inc. in connection certain allegedly false and misleading statements made between May 18, 2011 through April 12, 2013.

Investors who purchased shares of UniTek Global Services Inc. (NASDAQ:UNTK) between May 18, 2011 through April 12, 2013 and / or those who purchased NASDAQ:UNTK shares in 2011 or earlier and current hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: June 18, 2013. NASDAQ:UNTK investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of investors who purchased or otherwise acquired UniTek Global Services's common stock (NASDAQ:UNTK) during the period from May 18, 2011 through April 12, 2013, that UniTek Global Services Inc. and certain of its officers violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements and omissions regarding the Company's financial condition and prospects as well as its internal controls.

UniTek Global Services Inc. reported that its annual Total Revenue rose from $398.95 million in 2010 to $432.32 million in 2011 and its respective Net Loss declined from $30.58 million to $15.57 million. For the first three quarters in 2012 UniTek Global Services Inc. reported a combined nine months Total Revenue of $434.99 million with a combined nine months Net Loss of $11.40 million.

Shares of UniTek Global Services Inc. (NASDAQ:UNTK) grew from under $2.50 in August 2012 to $4.30 in September 2012.

Then on April 12, 2013, UniTek Global Services Inc. announced selected estimated preliminary 2012 Financial Results. Among, other things, UniTek Global Services Inc also announced that it will restate its financial results for the interim periods ended March 31, 2012, June 30, 2012and September 29, 2012, the fiscal year ended December 31, 2011 and the interim period ended October 1, 2011. UniTek Global Services Inc said that as a result of an ongoing internal investigation being conducted by the Audit Committee of the Company's Board of Directors, with the assistance of outside independent counsel and a forensic accounting firm, it was determined that several employees of the Company's Pinnacle Wireless subsidiary engaged in fraudulent activities that resulted in improper revenue recognition.

The company also announced that its Chief Financial Officer and Treasurer, the Controller and Chief Accounting Officer, as well as the President of the Pinnacle Wireless division, and several other employees of Pinnacle Wireless and an employee of the UniTek finance department have been terminated from their positions with the company.

Shares of UniTek Global Services Inc. (NASDAQ:UNTK) declined from slightly over $3 per share on April 12, 2013 to as low as $0.95 per share on April 15, 2013.

On April 19, 2013, NASDAQ:UNTK shares closed at $1.35 per share.

Those who purchased shares of UniTek Global Services Inc. (NASDAQ:UNTK) between May 18, 2011 through April 12, 2013 and / or those who purchased NASDAQ:UNTK shares in 2011 or earlier and current hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: June 18, 2013. NASDAQ:UNTK investors should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com