NEW YORK, Sept. 18, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Ubiquiti Networks, Inc. ("Ubiquiti" or the "Company") (NASDAQ: UBNT). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Ubiquiti and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 18, 2017, Citron Research published a report that described Ubiquiti as a "total fraud." The report identified several purported "red flags" that, in the view of the report's author, indicated that the Company was deceiving investors, including operating margins well above those of Ubiquiti's peers and relatively low interest income despite a growing cash position.
On this news, Ubiquiti's share price has fallen as much as $7.17 per share, or 13.05%, during intraday trading on September 18, 2017.
The Pomerantz Firm, with offices in New York, Paris, Chicago, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP