NEW ORLEANS, May 26, 2021 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until July 19, 2021 to file lead plaintiff applications in a securities class action lawsuit against Ubiquiti Inc. (NYSE: UI), if they purchased the Company’s shares between January 11, 2021 and March 30, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
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Ubiquiti investors should visit us at https://www.claimsfiler.com/cases/view-ubiquiti-inc-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Ubiquiti and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 30, 2021, post-market, Krebs on Security reported that the Company’s January 2021 data breach was “catastrophic,” and more extensive than portrayed by the Company, wherein the attacker(s) accessed “privileged credentials that were previously stored in the LastPass account of a Ubiquiti IT employee, and gained root administrator access to all Ubiquiti AWS [Amazon Web Services] accounts, including all S3 data buckets, all application logs, all databases, all user database credentials, and secrets required to forge single sign-on (SSO) cookies.”
On this news, shares of Ubiquiti fell $50.70, or 14.5%, to close at $298.30 per share on March 31, 2021, on unusually heavy trading volume.
The case is Molder v. Ubiquiti Inc., et al., No. 1:21-cv-04520.
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