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4-Traders Homepage  >  Equities  >  Nasdaq  >  Ubiquiti Networks Inc    UBNT

UBIQUITI NETWORKS INC (UBNT)
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Brower Piven Encourages Shareholders Who Have Losses in Excess of $100,000 from Investment in Ubiquiti Networks, Inc. to Contact Brower Piven Before the Lead Plaintiff Deadline in Class Action Lawsuit

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03/13/2018 | 06:32pm CEST

The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Ubiquiti Networks, Inc. (Nasdaq: UBNT) (“Ubiquiti” or the “Company”) securities during the period between May 9, 2013 and February 20, 2018, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until April 23, 2018 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Ubiquiti securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the number of the Company’s purported user community was drastically overstated and that Ubiquiti had exaggerated its publicly reported accounts receivable.

According to the complaint, following the Company’s February 20, 2018 filing of Form 8-K with the Securities and Exchange Commission (“SEC”) stating that on February 13, 2018, the SEC issued subpoenas to Ubiquiti 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, the value of Ubiquiti shares declined significantly.

If you have suffered a loss in excess of $100,000 from investment in Ubiquiti securities purchased on or after May 9, 2013 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at [email protected] or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.


© Business Wire 2018
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Financials ($)
Sales 2018 1 003 M
EBIT 2018 330 M
Net income 2018 195 M
Finance 2018 241 M
Yield 2018 -
P/E ratio 2018 32,34
P/E ratio 2019 19,31
EV / Sales 2018 6,12x
EV / Sales 2019 5,55x
Capitalization 6 378 M
Chart UBIQUITI NETWORKS INC
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Ubiquiti Networks Inc Technical Analysis Chart | UBNT | US90347A1007 | 4-Traders
Technical analysis trends UBIQUITI NETWORKS INC
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 5
Average target price 64,9 $
Spread / Average Target -25%
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Managers
NameTitle
Robert J. Pera Chairman & Chief Executive Officer
Hartley Nisenbaum CFO, EVP-Operations & Legal Affairs
John R. Sanford Chief Technology Officer
Ronald A. Sege Independent Director
Rafael Torres Independent Director
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