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Ubiquiti Networks, Inc UBNT Securities Lawsuit

Company: Ubiquiti Networks, Inc
Ticker Symbol: UBNT
Class Period: Oct-14-11 to Aug-9-12
Date Filed: Sep-11-12
Lead Plaintiff Deadline: Nov-10-12
Court: Northern District of California
Atlanta, GA: A securities class action lawsuit has been filed on behalf of investors who purchased common stock of Ubiquiti Networks, Inc. ("Ubiquiti" or the "Company") between October 14, 2011 and August 9, 2012, including those who purchased pursuant to the Company's initial public offering (the "IPO").

The lawsuit, which was filed in the United States District Court for the Northern District of California, alleges that Ubiquiti issued false and misleading statements during that time by failing to adequately disclose negative trends in its business due to, among other things, counterfeit versions of its Airmax line of products reaching the market as a result of stolen source codes and designs. On August 9, 2012, Ubiquiti revealed that problems relating to counterfeit Airmax products were more widespread than previously acknowledged and the Company's stock declined approximately 42% on the news.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Ubiquiti Networks, Inc UBNT Securities Fraud Legal Help

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Published on Sep-12-12


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