{"id":472818,"date":"2021-04-07T09:03:32","date_gmt":"2021-04-07T13:03:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472818"},"modified":"2021-04-07T09:03:32","modified_gmt":"2021-04-07T13:03:32","slug":"the-law-offices-of-frank-r-cruz-announces-investigation-of-ubiquiti-inc-ui-on-behalf-of-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-investigation-of-ubiquiti-inc-ui-on-behalf-of-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces Investigation of Ubiquiti Inc. (UI) on Behalf of Investors"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>The Law Offices of Frank R. Cruz Announces Investigation of Ubiquiti Inc. (UI) on Behalf of Investors<\/b><\/p>\n<p>LOS ANGELES&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.frankcruzlaw.com%2F&amp;esheet=52407833&amp;newsitemid=20210407005411&amp;lan=en-US&amp;anchor=The+Law+Offices+of+Frank+R.+Cruz&amp;index=1&amp;md5=252910a800bc12743086b9459b76e66e\">The Law Offices of Frank R. Cruz<\/a> announces an investigation of Ubiquiti Inc. (\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FUI%2F%3Fp%3DUI&amp;esheet=52407833&amp;newsitemid=20210407005411&amp;lan=en-US&amp;anchor=UI&amp;index=2&amp;md5=5b0d321e70b440f5cbb22130df99f544\">UI<\/a>) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws.\n<\/p>\n<p>\nIf you are a shareholder who suffered a loss, click <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.frankcruzlaw.com%2Fcases%2Fubiquiti-inc%2F&amp;esheet=52407833&amp;newsitemid=20210407005411&amp;lan=en-US&amp;anchor=here&amp;index=3&amp;md5=0108040fd87c47be1c0882cfad003f8c\">here<\/a> to participate.\n<\/p>\n<p>\nOn January 11, 2021, Ubiquiti disclosed that a breach involving a third-party cloud provider had exposed customer account credentials.\n<\/p>\n<p>\nOn this news, Ubiquiti\u2019s share price fell $13.69 per share, or 5%, over the next two trading days, damaging investors.\n<\/p>\n<p>\nThen on March 30, 2021, the Krebs on Security posted an article entitled \u201cWhistleblower: Ubiquiti Breach \u2018Catastrophic\u2019\u201d stating that \u201c[n]ow a source who participated in the response to that breach alleges Ubiquiti massively downplayed a \u2018catastrophic\u2019 incident to minimize the hit to its stock price, and that the third-party cloud provider claim was a fabrication.\u201d Further, the article quoted a letter from the source to the European Data Protection Supervisor stating \u201c[i]t was catastrophically worse than reported, and legal silenced and overruled efforts to decisively protect customers\u201d and \u201c[t]he breach was massive, customer data was at risk, access to customers\u2019 devices deployed in corporations and homes around the world was at risk.\u201d\n<\/p>\n<p>\nOn this news, Ubiquiti\u2019s share price fell $27.78, or 7%, to close at $349.00 per share on March 30, 2021. The stock price continued to decline by $50.70, or 14.5%, over the next trading session to close at $298.30 per share on March 31, 2021, thereby injuring investors further.\n<\/p>\n<p>\nFollow us for updates on Twitter: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FFRC_LAW&amp;esheet=52407833&amp;newsitemid=20210407005411&amp;lan=en-US&amp;anchor=twitter.com%2FFRC_LAW&amp;index=4&amp;md5=14ce58f9dd285b9508e957b0cfb25fb3\">twitter.com\/FRC_LAW<\/a>.\n<\/p>\n<p>\nIf you purchased Ubiquiti securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to <a rel=\"nofollow\" href=\"mailto:info@frankcruzlaw.com\">info@frankcruzlaw.com<\/a>, or visit our website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.frankcruzlaw.com&amp;esheet=52407833&amp;newsitemid=20210407005411&amp;lan=en-US&amp;anchor=www.frankcruzlaw.com&amp;index=5&amp;md5=5f830878dc46596c544dd63575a88029\">www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n<p>\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210407005411r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210407005411\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210407005411\/en\/<\/a><\/span><\/p>\n<p>\nThe Law Offices of Frank R. Cruz, Los Angeles<br \/>\n<br \/>Frank R. Cruz, 310-914-5007<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:fcruz@frankcruzlaw.com\">fcruz@frankcruzlaw.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.frankcruzlaw.com&amp;esheet=52407833&amp;newsitemid=20210407005411&amp;lan=en-US&amp;anchor=www.frankcruzlaw.com&amp;index=6&amp;md5=7dcbba82ad8e0cfbe73c8f98a6c152dc\">www.frankcruzlaw.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210407005411\/en\/765953\/3\/Close_Up_Logo_HD_Blue.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The Law Offices of Frank R. Cruz Announces Investigation of Ubiquiti Inc. (UI) on Behalf of Investors LOS ANGELES&#8211;(BUSINESS WIRE)&#8211;The Law Offices of Frank R. Cruz announces an investigation of Ubiquiti Inc. (\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: UI) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On January 11, 2021, Ubiquiti disclosed that a breach involving a third-party cloud provider had exposed customer account credentials. On this news, Ubiquiti\u2019s share price fell $13.69 per share, or 5%, over the next two trading days, damaging investors. Then on March 30, 2021, the Krebs on Security posted an article entitled \u201cWhistleblower: Ubiquiti Breach \u2018Catastrophic\u2019\u201d &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-investigation-of-ubiquiti-inc-ui-on-behalf-of-investors\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Law Offices of Frank R. Cruz Announces Investigation of Ubiquiti Inc. (UI) on Behalf of Investors&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-472818","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Law Offices of Frank R. Cruz Announces Investigation of Ubiquiti Inc. 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(\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: UI) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On January 11, 2021, Ubiquiti disclosed that a breach involving a third-party cloud provider had exposed customer account credentials. On this news, Ubiquiti\u2019s share price fell $13.69 per share, or 5%, over the next two trading days, damaging investors. Then on March 30, 2021, the Krebs on Security posted an article entitled \u201cWhistleblower: Ubiquiti Breach \u2018Catastrophic\u2019\u201d &hellip; Continue reading &quot;The Law Offices of Frank R. Cruz Announces Investigation of Ubiquiti Inc. 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