LOS ANGELES, CA / ACCESSWIRE / March 8, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces Ubiquiti Networks, Inc. ("Ubiquiti" or "the Company") (NASDAQ: UBNT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between May 9, 2013 and February 20, 2018, are encouraged to contact the firm before April 23, 2018, the lead plaintiff deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964 to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company issued false and/or misleading statements and/or failed to disclose that: (1) the size of Ubiquiti's purported user community was drastically overstated; (2) that Ubiquiti had exaggerated its publicly reported accounts receivable; and (3) that as a result of the foregoing, Ubiquiti's publicly disseminated financial statements were materially false and misleading. When the truth was revealed to the investing public, shares dropped, causing shareholders harm.
The Schall Law Firm represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.,
Sherin Mahdavian, Esq.,
SOURCE: The Schall Law Firm