Lawsuit Filed: Ubiquiti Inc. Sued for Violations of the Federal Securities Laws; Investors Should Contact Block & Leviton

·3 min read

Boston, Massachusetts--(Newsfile Corp. - June 22, 2021) - Block & Leviton announces that a lawsuit for violations of the federal securities has been filed against Ubiquiti Inc. (NYSE: UI) and certain of its executives. Investors who have lost money should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/ui. The deadline to move for appointment as lead plaintiff is July 19, 2021.

What is this all about?

On March 30, 2021, Krebs on Security reported that a whistleblower claimed that Ubiquiti's January 11, 2021 data breach was "catastrophic," and much more serious than the company previously let on. The report claims Ubiquiti hid a "massive" breach that put customer data and device security at risk. We are investigating whether Ubiquiti lied or misrepresented to investors the severity of the data breach when the Company announced it in January. On this news, the Ubiquiti share price dropped from its March 30, 2021 open of $375.30 to an April 1, 2021 close of just $289.15 per share, representing a two day drop of approximately 23%.

Who is eligible?

Anyone who purchased Ubiquiti shares between January 11, 2021 and March 30, 2021 and has now lost money may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more. The deadline to move the Court to be appointed lead plaintiff is July 19, 2021. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

What is Block & Leviton doing?

Block & Leviton is working to attempt to recover losses on behalf of investors who have lost money. A class action lawsuit has been filed in the U.S. District Court for the Southern District of New York, Molder v. Ubiquiti Inc., et al., No. 1:21-cv-04520 (S.D.N.Y.).

What should I do next?

If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at cases@blockleviton.com, or by phone at (617) 398-5600.

Why should I contact Block & Leviton?

Many law firms have issued releases about this matter; many of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email cases@blockleviton.com with any questions.

This notice may constitute attorney advertising.

CONTACT:

BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockleviton.com
SOURCE: Block & Leviton LLP
www.blockleviton.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/88289.

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