{"id":503050,"date":"2021-06-11T09:03:36","date_gmt":"2021-06-11T13:03:36","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ubiquiti-investors-july-19-2021-filing-deadline-in-class-action-contact-lieff-cabraser\/"},"modified":"2021-06-11T09:03:36","modified_gmt":"2021-06-11T13:03:36","slug":"ubiquiti-investors-july-19-2021-filing-deadline-in-class-action-contact-lieff-cabraser","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ubiquiti-investors-july-19-2021-filing-deadline-in-class-action-contact-lieff-cabraser\/","title":{"rendered":"UBIQUITI INVESTORS: July 19, 2021 Filing Deadline in Class Action \u2013 Contact Lieff Cabraser"},"content":{"rendered":"

<\/p>\n

UBIQUITI INVESTORS: July 19, 2021 Filing Deadline in Class Action \u2013 Contact Lieff Cabraser<\/b><\/p>\n

SAN FRANCISCO–(BUSINESS WIRE<\/a>)–
\nThe law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired the securities of Ubiquiti Inc.<\/a> (\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: UI) between January 11, 2021 and March 30, 2021, inclusive (the \u201cClass Period\u201d).\n<\/p>\n

\nIf you purchased or otherwise acquired Ubiquiti securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than July 19, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.\n<\/p>\n

Ubiquiti investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should click here<\/a> or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.\n<\/p>\n

Background on the Ubiquiti Securities Class Litigation<\/span><\/p>\n

\nUbiquiti, headquartered in New York, New York, manufactures and sells wireless data communication and wired products for enterprises and homes.\n<\/p>\n

\nThe action alleges that, throughout the Class Period, defendants made false and\/or misleading statements and\/or failed to disclose that: (1) the Company minimized the severity of its data breach in January 2021; (2) hackers had obtained full access to Ubiquiti\u2019s servers and also obtained access to, among other things, all databases, user database credentials, and secrets required to forge single sign-on (SSO) cookies; (3) as a result of the data breach, attackers could remotely access Ubiquiti\u2019s customers\u2019 devices; and (4) as a result of the foregoing, defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nOn March 30, 2021, following the close of the market, cybersecurity news website Krebs on Security (\u201cKrebs\u201d) reported that Ubiquiti had understated the scale of its data breach, which began in December 2020, and that the Company\u2019s statement on the breach \u201cdownplayed and [was] purposefully written to imply that a 3rd party cloud vendor was at risk and that Ubiquiti was merely a casualty of that, instead of the target of the attack.\u201d According to the Krebs report, a Ubiquiti security professional noted that the Company had been aware for months that attackers had \u201cadministrative access to all Ubiquiti AWS accounts, including . . . all user database credentials, and secrets required to forge single sign-on (SSO) cookies.\u201d On this news, the Company\u2019s stock price fell $50.70, or 14.5%, from its closing price of $349.00 on March 30, 2021, to close at $298.30 per share on March 31, 2021, on unusually heavy trading volume.\n<\/p>\n

\nOn April 4, 2021, Krebs published another article, highlighting that Ubiquiti continued to \u201cconfirm[] and reinforce[] th[e] claims\u201d from the March 30, 2021 article.\n<\/p>\n

About Lieff Cabraser<\/b><\/p>\n

\nLieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Munich, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.\n<\/p>\n

The National Law Journal<\/i> has recognized Lieff Cabraser as one of the nation\u2019s top plaintiffs\u2019 law firms for fourteen years. In compiling the list, the National Law Journal<\/i> examines recent verdicts and settlements and looked for firms \u201crepresenting the best qualities of the plaintiffs\u2019 bar and that demonstrated unusual dedication and creativity.\u201d Law360<\/i> has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm\u2019s \u201claser focus\u201d and noting that our firm routinely finds itself \u201cfacing off against some of the largest and strongest defense law firms in the world.\u201d Benchmark Litigation<\/i> has named Lieff Cabraser one of the \u201cTop 10 Plaintiffs\u2019 Firms in America.\u201d\n<\/p>\n

\nFor more information about Lieff Cabraser and the firm\u2019s representation of investors, please visit https:\/\/www.lieffcabraser.com\/<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210611005074\/en\/<\/a><\/span><\/p>\n

Source\/Contact for Media Inquiries Only
\n<\/b>
Sharon M. Lee
\n
Lieff Cabraser Heimann & Bernstein, LLP
\n
Telephone: 1-800-541-7358\n<\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

UBIQUITI INVESTORS: July 19, 2021 Filing Deadline in Class Action \u2013 Contact Lieff Cabraser SAN FRANCISCO–(BUSINESS WIRE)– The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired the securities of Ubiquiti Inc. (\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: UI) between January 11, 2021 and March 30, 2021, inclusive (the \u201cClass Period\u201d). If you purchased or otherwise acquired Ubiquiti securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than July 19, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery … <\/p>\n

Continue reading “UBIQUITI INVESTORS: July 19, 2021 Filing Deadline in Class Action \u2013 Contact Lieff Cabraser”<\/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-503050","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nUBIQUITI INVESTORS: July 19, 2021 Filing Deadline in Class Action \u2013 Contact Lieff Cabraser - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ubiquiti-investors-july-19-2021-filing-deadline-in-class-action-contact-lieff-cabraser\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UBIQUITI INVESTORS: July 19, 2021 Filing Deadline in Class Action \u2013 Contact Lieff Cabraser - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"UBIQUITI INVESTORS: July 19, 2021 Filing Deadline in Class Action \u2013 Contact Lieff Cabraser SAN FRANCISCO–(BUSINESS WIRE)– The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired the securities of Ubiquiti Inc. (\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: UI) between January 11, 2021 and March 30, 2021, inclusive (the \u201cClass Period\u201d). If you purchased or otherwise acquired Ubiquiti securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than July 19, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. 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