Ubiquiti Networks Inc


Case Summary
Company Name: Ubiquiti Networks Inc
Stock Symbol : NASDAQ: UBNT
Class Period Start: 09/28/2012
Class Period End: 09/18/2017
Lead Plaintiff motion: 11/24/2017
Date Filed: 09/25/2017
Type of Case: Securities Class Action
Court: U.S. District Court for the Southern District of New York

Thieler Law Corp advises investors with losses exceeding $100,000 of the November 24, 2017 lead plaintiff deadline in a class action lawsuit filed against Ubiquiti Networks Inc (NASDAQ: UBNT) (“Ubiquiti” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Ubiquiti Networks Inc securities between September 28, 2012 and September 18, 2017, have until November 24, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Ubiquiti Networks Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that the number of the Company's purported user community was drastically overstated; that it had exaggerated its publicly reported accounts receivable; and that as a result of the above, Ubiquiti's publicly disseminated financial statements were materially false and misleading.

On September 18, 2017, a report released by Citron Research detailed a series of "alarming red flags," indicating that the Company has been deceiving investors and is engaged in "corporate fraud," including, among other things, that the Company has misrepresented the size of its purported "Ubiquiti Community," as well as its levels of accounts receivable.

Following this news, NASDAQ: UBNT dropped from $54.95 per share on September 15, 2017 to a closing price of $50.62 on September 18, 2017.

If you were negatively impacted by your investment in Ubiquiti Networks Inc securities between September 28, 2012 and September 18, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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