NEW YORK--(BUSINESS WIRE)--Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, is investigating whether certain directors and officers of Ubiquiti Networks, Inc. (“Ubiquiti” or the “Company”) (NASDAQ: UBNT) breached their fiduciary duties to the Company and its shareholders. If you are a Ubiquiti shareholder, you are encouraged to contact Scott+Scott for additional information.
Ubiquiti develops networking technology for service providers, enterprises, and consumers worldwide. The Company does not employ a traditional sales force. Instead, it states that it “drives brand awareness largely through the company's user community where customers can interface directly with R&D, marketing, and support.” The Company calls this user community the “Ubiquiti Community.”
On September 18, 2017, Citron Research (“Citron”) issued a report entitled “Citron Exposes Ubiquiti Networks,” in which Citron 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, among other things.
What You Can Do
If you are a Ubiquiti shareholder, you may have legal claims against Ubiquiti’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.