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CORRECTED-UPDATE 1-U.S. SEC charges Uni-Pixel with civil accounting fraud
March 9, 2016 / 8:28 PM / 2 years ago

CORRECTED-UPDATE 1-U.S. SEC charges Uni-Pixel with civil accounting fraud

(Corrects third paragraph to clarify that Uni-Pixel’s former, not current, CEO and CFO, have been charged)

March 9 (Reuters) - The U.S. Securities and Exchange Commission charged touch-screen technology maker Uni-Pixel Inc with accounting fraud in a court complaint on Wednesday.

Uni-Pixel, based in Santa Clara, California, omitted material details from its accounting statements as part of a scheme to mislead investors about its manufacturing and business prospects, the SEC said in a civil complaint filed in a Houston federal court.

The agency also charged Uni-Pixel’s former chief executive officer, Reed Killion, and former chief financial officer, Jeffrey Tomz, in the case.

The two officers made “materially misleading” statements and omissions about Uni-Pixel’s touch screen manufacturing technologies, including that it had shipped certain products when it had not, the SEC said in the complaint.

Neither a Uni-Pixel spokesman nor Killion nor Tomz could be immediately reached for comment.

Reporting by Suzanne Barlyn in New York; Editing by Sandra Maler and Lisa Shumaker

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