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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Ubiquiti Networks Inc    UBNT

UBIQUITI NETWORKS INC (UBNT)
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Delayed Quote. Delayed  - 09/21 10:00:03 pm
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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 hoffman@browerpiven.com 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 2019 1 128 M
EBIT 2019 375 M
Net income 2019 285 M
Finance 2019 208 M
Yield 2019 0,34%
P/E ratio 2019 23,74
P/E ratio 2020 21,27
EV / Sales 2019 6,18x
EV / Sales 2020 5,59x
Capitalization 7 180 M
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Mean consensus HOLD
Number of Analysts 5
Average target price 67,9 $
Spread / Average Target -30%
EPS Revisions
Managers
NameTitle
Robert J. Pera Chairman & Chief Executive Officer
Hartley Nisenbaum EVP-Operations & Legal Affairs
Kevin Radigan Chief Financial & Accounting Officer
John R. Sanford Chief Technology Officer
Ronald A. Sege Independent Director
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