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The Law Offices of Frank R. Cruz announces an investigation of Unique Fabrication, Inc ("Unique Fabricating" or the "Company") (NYSE: UFAB) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On April 20, 2021, Unique Fabricating restated its financial results for the quarters ended September 30, 2020, June 30, 2020, and March 31, 2020. Moreover, the Company revealed that its fiscal 2020 Form 10-K "contain[ed] an audit opinion from its independent registered public accounting firm that includes an explanatory paragraph related to the Company's ability to continue as a going concern." Specifically, "the Company is not in compliance with certain covenants of its Amended and Restated Credit Agreement and does not have sufficient liquidity to repay the debt, which is now currently due, which raises substantial doubt about its ability to continue as a going concern."
On this news, the Company’s share price fell $1.01, or 20%, to close at $4.04 per share on April 21, 2021, thereby injuring investors.
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If you purchased Unique Fabricating securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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