{"id":508496,"date":"2021-06-30T16:22:56","date_gmt":"2021-06-30T20:22:56","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lowey-dannenberg-investigates-claims-on-behalf-of-investors-of-ubiquiti-inc-ui-and-encourages-investors-with-more-than-100000-in-losses-to-contact-the-firm\/"},"modified":"2021-06-30T16:22:56","modified_gmt":"2021-06-30T20:22:56","slug":"lowey-dannenberg-investigates-claims-on-behalf-of-investors-of-ubiquiti-inc-ui-and-encourages-investors-with-more-than-100000-in-losses-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lowey-dannenberg-investigates-claims-on-behalf-of-investors-of-ubiquiti-inc-ui-and-encourages-investors-with-more-than-100000-in-losses-to-contact-the-firm\/","title":{"rendered":"Lowey Dannenberg Investigates Claims on Behalf of Investors of Ubiquiti, Inc. (UI) and Encourages Investors with more than $100,000 in Losses to Contact the Firm"},"content":{"rendered":"<div class=\"mw_release\">\n<p>NEW YORK, June  30, 2021  (GLOBE NEWSWIRE) &#8212; Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Ubiquiti Inc. (\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: UI). If you are a shareholder of Ubiquiti with more than $100,000 in losses, you should contact the Firm.<\/p>\n<p>On March 30, 2021, the market was made aware of a data breach through the publishing of an article titled \u201cWhistleblower: Ubiquiti Breach \u2018Catastrophic\u2019.\u201d In this article, a source internal to Ubiquiti stated that the Company had downplayed a data breach that gave hackers access to Ubiquiti\u2019s user credentials and single sign-on (SSO) cookies. This report is in direct contradiction of former statements by the Company which made the data breach out to be less severe than it actually was.<\/p>\n<p>On this news, the Company\u2019s stock price fell $50.70, or 14%, to close at $298.80 per share on March 31, 2021.<\/p>\n<p>The complaint alleges that Ubiquiti made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. The Defendants statements concerning the data breach, failed to disclose to investors: (1) that the Company had downplayed the data breach in January 2021; (2) that attackers had obtained administrative access to Ubiquiti\u2019s servers and obtained access to, among other things, all databases, all user database credentials, and secrets required to forge SSO cookies; (3) that, as a result, intruders already had credentials needed to remotely access Ubiquiti\u2019s customers\u2019 systems; and (4) that, 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.<\/p>\n<p>If you are a shareholder of Ubiquiti who purchased Ubiquiti securities between January 11, 2021 and March 30, 2021, you have until July 19, 2021, to ask the Court to appoint you as Lead Plaintiff for the class. To participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=IlrzeZsS2LA3TcT_8lmyWaF8Os1XMQpnbFK4CWsfPdw--1kP9QIFocS6Xe_hS1Y-mwToptgwp0x9kwAGMtNCWdaXjCAQOTHypIhEI_K5YVk=\" rel=\"nofollow noopener\" target=\"_blank\"><u>investigations@lowey.com<\/u><\/a>. For more information, visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=NCUd6MKju6kRO8O0SjXSEwYAJjLKlCbDvjHnFH1pCdJ6zuRlAC08cUCJKeOIzXdEFKW80hfL-CFb3gEprWUjofwwKrLLPakBfTOhCfkxsiywkBcFQsP30WPjQ2sOtaIS\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/lowey.com\/cases\/ubiquiti-inc\/<\/a>.<\/p>\n<p>\n        <strong>Whistleblowers:\u00a0<\/strong>Persons with non-public information regarding Ubiquiti should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.<\/p>\n<p>\n        <strong>About Lowey Dannenberg<\/strong>\n      <\/p>\n<p>Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.<\/p>\n<p>\n        <strong>Contact<\/strong>\n      <\/p>\n<p>Lowey Dannenberg P.C.<br \/>44 South Broadway, Suite 1100<br \/>White Plains, NY 10601<br \/>Tel: (914) 733-7256<br \/>Email: investigations@lowey.com<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI3MzUxOSM0Mjc3OTE3IzIxOTQ1MzQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/d7d0e4c6-8d32-4c38-86ad-c306b48e2503\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) &#8212; Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Ubiquiti Inc. (\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: UI). If you are a shareholder of Ubiquiti with more than $100,000 in losses, you should contact the Firm. On March 30, 2021, the market was made aware of a data breach through the publishing of an article titled \u201cWhistleblower: Ubiquiti Breach \u2018Catastrophic\u2019.\u201d In this article, a source internal to Ubiquiti stated that the Company had downplayed a data breach that gave hackers access to Ubiquiti\u2019s user credentials and single sign-on (SSO) cookies. This report is in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lowey-dannenberg-investigates-claims-on-behalf-of-investors-of-ubiquiti-inc-ui-and-encourages-investors-with-more-than-100000-in-losses-to-contact-the-firm\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Lowey Dannenberg Investigates Claims on Behalf of Investors of Ubiquiti, Inc. (UI) and Encourages Investors with more than $100,000 in Losses to Contact the Firm&#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-508496","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>Lowey Dannenberg Investigates Claims on Behalf of Investors of Ubiquiti, Inc. (UI) and Encourages Investors with more than $100,000 in Losses to Contact the Firm - 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\/lowey-dannenberg-investigates-claims-on-behalf-of-investors-of-ubiquiti-inc-ui-and-encourages-investors-with-more-than-100000-in-losses-to-contact-the-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lowey Dannenberg Investigates Claims on Behalf of Investors of Ubiquiti, Inc. (UI) and Encourages Investors with more than $100,000 in Losses to Contact the Firm - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) &#8212; Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Ubiquiti Inc. (\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: UI). If you are a shareholder of Ubiquiti with more than $100,000 in losses, you should contact the Firm. On March 30, 2021, the market was made aware of a data breach through the publishing of an article titled \u201cWhistleblower: Ubiquiti Breach \u2018Catastrophic\u2019.\u201d In this article, a source internal to Ubiquiti stated that the Company had downplayed a data breach that gave hackers access to Ubiquiti\u2019s user credentials and single sign-on (SSO) cookies. This report is in &hellip; Continue reading &quot;Lowey Dannenberg Investigates Claims on Behalf of Investors of Ubiquiti, Inc. 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(\u201cUbiquiti\u201d or the \u201cCompany\u201d) (NYSE: UI). If you are a shareholder of Ubiquiti with more than $100,000 in losses, you should contact the Firm. On March 30, 2021, the market was made aware of a data breach through the publishing of an article titled \u201cWhistleblower: Ubiquiti Breach \u2018Catastrophic\u2019.\u201d In this article, a source internal to Ubiquiti stated that the Company had downplayed a data breach that gave hackers access to Ubiquiti\u2019s user credentials and single sign-on (SSO) cookies. This report is in &hellip; Continue reading \"Lowey Dannenberg Investigates Claims on Behalf of Investors of Ubiquiti, Inc. (UI) and Encourages Investors with more than $100,000 in Losses to Contact the Firm\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/lowey-dannenberg-investigates-claims-on-behalf-of-investors-of-ubiquiti-inc-ui-and-encourages-investors-with-more-than-100000-in-losses-to-contact-the-firm\/","og_site_name":"Market Newsdesk","article_published_time":"2021-06-30T20:22:56+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI3MzUxOSM0Mjc3OTE3IzIxOTQ1MzQ=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lowey-dannenberg-investigates-claims-on-behalf-of-investors-of-ubiquiti-inc-ui-and-encourages-investors-with-more-than-100000-in-losses-to-contact-the-firm\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lowey-dannenberg-investigates-claims-on-behalf-of-investors-of-ubiquiti-inc-ui-and-encourages-investors-with-more-than-100000-in-losses-to-contact-the-firm\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Lowey Dannenberg Investigates Claims on Behalf of Investors of Ubiquiti, Inc. 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