Ubiquiti Networks Investor Alert: Hagens Berman Alerts Ubiquiti Networks, Inc. Investors to Investigation into Possible Securities Law Violations

SAN FRANCISCO, Sept. 25, 2017 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in Ubiquiti Networks, Inc. (NASDAQ: UBNT) to the firm's investigation into possible securities law violations.  If you purchased or otherwise acquired securities of UBNT before September 18, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information visit:

https://www.hbsslaw.com/cases/UBNT

or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing

[email protected].

On September 18, 2017, Citron Research published a report in which Citron detailed a series of what it considered to be "alarming red flags" about Ubiquiti and setting forth a series of Citron's observations that it asserts have been deceiving the investing public.

Citron highlighted certain earnings conference call statements, operating metrics versus those of Ubiquiti's peers, Ubiquiti distributors whom Citron characterized as "shady," questions about Ubiquiti's cash balances and interest income, its management turnover, and its corporate culture as among the red flags.

This report drove the price of Ubiquiti shares down $4.33 from a closing price of $54.95 on September 15, 2017 to close at $40.62 on September 18, 2017 – a loss of about 7.8%.

"We're focused on the matters highlighted by Citron and findings reported the next day by a Seeking Alpha contributor who stated his separate findings do not contradict what Citron found," said Hagens Berman partner Reed Kathrein.  "If those reported findings are true, they may suggest possible violations of Generally Accepted Accounting Principles and, in turn, securities law violations."

Whistleblowers:  Persons with non-public information regarding Ubiquiti should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email [email protected].

About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 11 offices across the country.  The Firm represents investors, whistleblowers, workers and consumers in complex litigation.   More about the firm and its successes can be found at www.hbsslaw.com.  For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000

SOURCE Hagens Berman Sobol Shapiro LLP

Related Links

https://www.hbsslaw.com