NEW YORK –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. (“Ubiquiti”) (NASDAQ: UBNT) securities between May 9, 2013 and February 20, 2018.
Click here to learn about the case: http://www.wongesq.com/pslra-c/ubiquiti-networks-inc?wire=2. There is no cost or obligation to you.
According to the complaint, throughout the Class Period, the Company issued materially false and misleading statements and/or failed to disclose: (i) that the size of the Company’s purported user community was drastically overstated; (ii) that the Company 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. 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.”
If you suffered a loss in Ubiquiti 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. To obtain additional information, contact Vincent Wong, Esq. either via email [email protected], by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra-c/ubiquiti-networks-inc?wire=2.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.