Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Ubiquiti Networks, Inc.  

Lead Plaintiff  Deadline is April 23, 2018    

NEW YORK, March 01, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York  on behalf of all persons or entities that purchased Ubiquiti Networks, Inc. ("Ubiquiti" or the "Company") (NASDAQ:UBNT) securities between May 9, 2013 and February 20, 2018, inclusive (the "Class Period").  

Investors who have incurred losses in shares of Ubiquiti Networks, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If   you have incurred  losses  in  the shares of   Ubiquiti Networks, Inc.  and would like to assist with the litigation process as a lead plaintiff, you may, no later than April 23, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Ubiquiti Networks, Inc.

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 filed 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:  

• that the size of the Company's purported user community was drastically overstated;
   
• that the Company had exaggerated its publicly reported accounts receivable; and
   
• that as a result of the foregoing, Ubiquiti's publicly disseminated financial statements were materially false and misleading.

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.

Wolf Haldenstein Adler Freeman & Herz LLP  has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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