SHAREHOLDER ALERT - Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Ubiquiti Networks, Inc. (UBNT) and Lead Plaintiff Deadline: November 27, 2017

NEW YORK, Nov. 15, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Ubiquiti Networks, Inc. ("Ubiquiti" or the "Company") (Nasdaq: UBNT) securities and certain of its officers, on behalf of a class who purchased Ubiquiti between September 28, 2012, and September 18, 2017, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/ubnt.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.

Ubiquiti develops technology platforms for high-capacity distributed Internet access, unified information technology, and next-generation consumer electronics for home and personal use. The Company does not employ a traditional sales force. Instead, it purports to "drive[] 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."

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the number of the Company's purported user community was drastically overstated; (ii) Ubiquiti had exaggerated its publicly reported accounts receivable; and (iii) as a result of the foregoing, Ubiquiti's publicly disseminated financial statements were materially false and misleading.

On September 18, 2017, Citron Research ("Citron") issued a report entitled "Citron Exposes Ubiquiti Networks," (the "Citron Report") in which Citron detailed a series of "alarming red flags," alleging 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. Following this news, Ubiquiti stock dropped  roughly 8% to close at $50.62 on September 18, 2017.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/ubnt or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Ubiquiti you have until November 27, 2017 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]

SOURCE Bronstein, Gewirtz & Grossman, LLC

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