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Shareholder Class Action Filed Against Ubiquiti Networks, Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Ubiquiti Networks, Inc. (“Ubiquiti”) (Nasdaq: UBNT) common stock between May 9, 2013 and February 20, 2018, inclusive (the “Class Period”).

Ubiquiti investors may receive additional information about the case by clicking the link "Submit Your Information" above.  


According to the complaint, Ubiquiti offers a portfolio of wireless networking products and solutions.  The Company does not employ a traditional sales force, “but instead drives brand awareness largely through the company’s ‘user community’ where customers can interface directly with R&D, marketing, and support.”  

The Class Period commences on May 9, 2013, when Ubiquiti filed a quarterly report on Form 10-Q with the SEC for the period ending March 31, 2013.

On February 20, 2018, Ubiquiti disclosed that, “[o]n February 13, 2018, the Securities and Exchange Commission (the ‘SEC’) issued subpoenas to Ubiquiti Networks, Inc. (the ‘Company’) and certain of the Company’s officers 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.”  

Following this news, shares of the Company’s stock declined $18.76 per share, or over 25%, to close on February 20, 2018 at $55.28 per share, on heavy trading volume.

The shareholder class action complaint alleges that Ubiquiti and certain of its executive officers made a series of false and misleading statements to investors during the Class Period, and 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.

If you are a member of the class described above, you may no later than April 23, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.  


A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. 

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706 
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for Ubiquiti Networks, Inc.  (Nasdaq: UBNT) common stock between May 9, 2013 and February 20, 2018, inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Ubiquiti Networks, Inc. 2018 prior to the Class Period?
Are you a current or former employee of Ubiquiti Networks, Inc. 2018?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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