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NEW YORK, Nov. 15, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP announces that it has filed a securities class action lawsuit was filed. (NYSE:UIS) between August 3, 2022 and November 7, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Eastern District of Pennsylvania alleging violations of the Securities Exchange Act of 1934.

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 2022 financial guidance and stated in the relevant part that “[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%.”

Plaintiff alleges that throughout the Class Period, Defendants made materially false and misleading statements. Specifically, Plaintiff alleges that Defendants failed to disclose that: (i) the Company’s financial guidance for 2022 was materially overstated; and (ii) there were significant weaknesses in the company’s internal control over financial reporting.

On November 7, 2022, after the market close, Unisys issued a press release announcing that the company had significantly lowered its previously disclosed 2022 financial guidance and…