[November 29, 2017] |
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Scott+Scott, Attorneys at Law, LLP is Investigating Derivative Claims on Behalf of Shareholders of Ubiquiti Networks, Inc. (UBNT)
Scott+Scott,
Attorneys at Law, LLP ("Scott+Scott"), a national shareholder and
consumer rights litigation firm, is investigating whether certain
directors and officers of Ubiquiti (News - Alert) Networks, Inc. ("Ubiquiti" or the
"Company") (NASDAQ: UBNT) breached their fiduciary duties to the Company
and its shareholders. If you are a Ubiquiti shareholder, you are
encouraged to contact Scott+Scott for additional information.
Ubiquiti develops networking technology for service providers,
enterprises, and consumers worldwide. The Company does not employ a
traditional sales force. Instead, it states that it "rives brand
awareness largely through the company's user community where customers
can interface directly with R&D, marketing, and support." The Company
calls this user community the "Ubiquiti Community."
On September 18, 2017, Citron Research ("Citron") issued a report
entitled "Citron Exposes Ubiquiti Networks," in which Citron detailed a
series of "alarming red flags" indicating that the Company has been
deceiving investors and is engaged in "corporate fraud," including,
among other things, that the Company has misrepresented the size of its
purported "Ubiquiti Community," as well as its levels of accounts
receivable, among other things.
What You Can Do
If you are a Ubiquiti shareholder, you may have legal claims against
Ubiquiti's directors and officers. If you wish to discuss this
investigation, or have questions about this notice or your legal rights,
please contact attorney Joe Pettigrew at (844) 818-6982, or at [email protected].
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171129006002/en/
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