TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Ubiquiti Networks Inc (NASDAQ: UBNT) Investor Securities Class Action Lawsuit 09/25/2017

  • If you purchased shares of Ubiquiti Networks Inc (NASDAQ: UBNT), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Ubiquiti Networks Inc
Security
NASDAQ: UBNT

Case Name
Ubiquiti Networks Shareholder Class Action Lawsuit 09/25/2017
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
You must register or login to receive notifications.

Click here to subscribe to Ubiquiti Networks Inc.
Summary

November 29, 2017 - The case was voluntarily dismissed.

September 25, 2017 - An investor in shares of Ubiquiti Networks Inc (NASDAQ: UBNT) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Ubiquiti Networks Inc in connection with certain allegedly false and misleading statements made between September 28, 2012 and September 18, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Ubiquiti Networks Inc (NASDAQ: UBNT) common shares between September 28, 2012 and September 18, 2017 that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between September 28, 2012 and September 18, 2017, the defendants made false and/or misleading statements and/or failed to disclose that the number of the Company's purported user community was drastically overstated, that that it had exaggerated its publicly reported accounts receivable, and that as a result of the foregoing, Ubiquiti's publicly disseminated financial statements were materially false and misleading.

New York based Ubiquiti Networks Inc develops performance networking technology for service providers and enterprises.

Ubiquiti Networks Inc report that its Total Revenue rose from $666.39 million for the 12 months period that ended on June 30, 2016 to $865.27 million for the 12 months period that ended on June 30, 2017 and that its Net Income for those respective time periods increased from $213.62 million to $257.51 million.

Shares of Ubiquiti Networks Inc (NASDAQ: UBNT) grew from $26.88 per share in early 2016 to as high as $$66.43 per share in August 2017.

On September 18, 2017, Citron Research published a report that described Ubiquiti Networks Inc as a total fraud. The report identified several purported red flags that, in the view of the report's author, indicated that Ubiquiti Networks Inc was deceiving investors, including operating margins well above those of Ubiquiti Networks Inc's peers and relatively low interest income despite a growing cash position.

Shares of Ubiquiti Networks Inc (NASDAQ: UBNT) declined on September 18, 2017 to as low as $48.42 per share.