Unisys Corp. was hit with a class action securities fraud suit by investors who say the company inflated its stock price by exaggerating the potential profit value of contracts it won with British Telecommunications and the U.S. government. The suit was filed on behalf of investors who bought Unisys stock between May 4 and Oct. 14, 1999.
Named as defendants in the suit are Unisys Corp.; Larry Weinbach, its chairman and CEO; Jack McHale, the vice president in charge of investor relations; and Gerald Gagliardi, the executive vice president.
