Los Angeles, CA - (NewMediaWire) - June 1, 2021 - The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit againstUbiquiti Inc. (“Ubiquiti” or “the Company”) (NYSE: UI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between January 11, 2021 and March 30, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before July 19, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Ubiquiti downplayed the data breach it suffered in January 2021. The hackers had in fact gained administrative access to the Company’s servers, which in turn gave them access to all databases, user credentials, and information needed to force single sign-on cookies. This level of access let attackers remotely access systems belonging to the Company’s clients. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Ubiquiti, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm
Brian Schall, Esq.,
The Schall Law Firm