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Home>UBNT INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Ubiquiti Networks, Inc. Investors and Encourages Investors to Contact the Firm

UBNT INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Ubiquiti Networks, Inc. Investors and Encourages Investors to Contact the Firm

UBNT INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Ubiquiti Networks, Inc. Investors and Encourages Investors to Contact the Firm

09/28/2017

UBNT INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Ubiquiti Networks, Inc. Investors and Encourages Investors to Contact the Firm

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Ubiquiti Networks, Inc. (“Ubiquiti” or the “Company”) (NASDAQ: UBNT) securities between September 28, 2012 and September 18, 2017, inclusive (the “Class Period”). Ubiquiti investors have until November 24, 2017 to file a lead plaintiff motion.

Investors suffering losses on their Ubiquiti investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On September 18, 2017, Citron Research issued a report alleging that the Company misstated critical operating metrics, including net income margins, in order to conceal poor financial operating results. The report also alleges that the Company’s distribution network and corporate culture raise several red flags.

On this news, Ubiquiti's share price fell nearly 8% to close at $50.62 on September 18, 2017.

The Complaint filed in this class action alleges that throughout the Class Period, Ubiquiti made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Company made false and/or misleading statements and/or failed to disclose that (i) the number of the Company's purported user community was drastically overstated; (ii) that it had exaggerated its publicly reported accounts receivable; and (iii) that as a result of the foregoing, Ubiquiti's publicly disseminated financial statements were materially false and misleading.

If you purchased shares of Ubiquiti, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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