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Investors with losses are encouraged to contact the firm before July 19, 2021; click here to submit trade information
LOS ANGELES, July 19, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Ubiquiti, Inc. (NYSE: UI) investors that acquired shares between January 11, 2021 and March 30, 2021. Investors have until July 19, 2021 to seek an active role in this litigation.
It is alleged in this complaint that Ubiquiti, throughout the Class Period, made misleading and/or false statements and/or failed to disclose that: (1) Ubiquiti had downplayed a January 2021 data breach; (2) attackers had obtained administrative access to Ubiquiti’s servers, obtaining access to, among other things, all databases, all user database credentials, and secrets required to forge single sign-on (SSO) cookies; (3) these intruders already had the credentials required to remotely access Ubiquiti’s customers’ systems, as a result; and (4) Ubiquiti’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, as a result of the foregoing.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 19, 2021.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar