The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Ubiquiti Inc. (NYSE: UI) securities between January 11, 2021 and March 20, 2021.
According to the Ubiquiti lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company had downplayed the data breach in January 2021; (2) attackers had obtained administrative access to Ubiquiti’s servers and obtained access to, among other things, all databases, all user database credentials, and secrets required to forge single sign-on (SSO) cookies; (3) as a result, intruders already had credentials needed to remotely access Ubiquiti’s customers’ systems; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Ubiquiti you have until July 19, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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