Unico’s Reverse Stock Split Called Illegal

     SAN DIEGO (CN) – Unico Inc., a publicly traded, Arizona corporation in the mining and drilling business, is planning an illegal reverse stock split that will dilute shareholders’ ownership from 96 percent of common shares to less than 1 percent, and increase company directors’ ownership from 1 percent to nearly 50 percent, a class-action complaint claims in Federal Court. See complaint.

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