Class Action Investigation On Behalf Of Investors Who Acquired Ubiquiti Securities Between January 11, 2021 And March 30, 2021 (the “Class Period”) And Suffered Losses Greater Than $100,000
Kehoe Law Firm, P.C. is investigating securities claims on behalf of investors who purchased, or otherwise acquired, the securities of Ubiquiti Inc. (“Ubiquiti” or the “Company”) (NYSE: UI) during the Class Period and suffered losses greater than $100,000.
On May 19, 2021, a class action lawsuit was filed against Ubiquiti and certain of its officers in United States District Court, Southern District of New York.
The class action complaint alleges that throughout the aforementioned Class Period, the Ubiquiti Defendants made materially false and misleading statements and failed to disclose that (1) that the Company had downplayed the data breach in January 2021; (2) attackers had obtained administrative access to Ubiquiti’s servers and obtained access to, among other things, all databases, all user database credentials, and secrets required to forge single sign-on (SSO) cookies; (3) as a result, intruders already had credentials needed to remotely access Ubiquiti’s customers’ systems; and (4) as a result of the foregoing, the Ubiquiti Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, UBIQUITI’S SECURITIES DURING THE CLASS PERIOD AND SUFFERED LOSSES GREATER THAN $100,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT KEVIN CAULEY, DIRECTOR, CLIENT RELATIONS, (215) 792-6676, EXT. 802, [email protected], [email protected], TO DISCUSS THE SECURITIES CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.