LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Ubiquiti Networks, Inc. (“Ubiquiti” or the “Company”) (Nasdaq: UBNT) for violations of federal securities laws.
Investors who purchased the Company’s shares between September 28, 2012 and September 18, 2017, inclusive (the “Class Period”), are encouraged to contact the firm before November 24, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Ubiquiti 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 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, Citron Research published a report alleging a number of “red flags” suggesting that the Company has been misleading investors by posting significantly higher operating margins than industry peers and comparatively low interest income from an increasing cash position. The report also alleges red flags based on Ubiquiti’s distribution network, corporate turnover and corporate culture. Following this news, Ubiquiti’s stock price dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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