Claim: Wellington Buys 14% of Unipixel, Therefore Unipixel isn’t a Fraud

Penny stock pump and dumps are somewhat of a guilty pleasure of LST… so enter Unipixel (“UNXL”), a ~$300 million market cap stock with the following characteristics that a long-term investor would love: (1) $16 million in total assets (of which $12 million is recently infused cash via an equity raise) (2) a management team with a long history of failure/capital misallocation (3) Price/Sales multiple in the 3,000-4,000x range (4)  Laundry list of other red flags UNXL has nevertheless returned over 400% to shareholders within just 1 year.  Despite the stock’s impressive performance, an SEC filing yesterday showed that Wellington Management…