Ubiquiti Networks, Inc. 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 Networks, Inc. (NASDAQ: UBNT) securities between May 9, 2013 and February 20, 2018.
According to the UBNT lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the size of the Company’s purported user community was drastically overstated; (ii) the Company had exaggerated its publicly reported accounts receivable; and (iii) as a result of the foregoing, Ubiquiti’s publicly disseminated financial statements were materially false and misleading. On February 20, 2018, Ubiquiti revealed that it had received a subpoena from the SEC “requesting documents and information relating to a range of topics including metrics relating to the Ubiquiti Community, accounting practices, financial information, auditors, international trade practices, and relationships with distributors and various other third parties.”
“Ubiquiti Networks, Inc.”
If you suffered a loss in Ubiquiti Networks, Inc. you have until April 23, 2018 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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