Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, May 27, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Ubiquiti, Inc. ("Ubiquiti" or the "Company") (NYSE: UI) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
It is alleged in this complaint that Ubiquiti, throughout the Class Period, made misleading and/or false statements and/or failed to disclose that: (1) Ubiquiti had downplayed a January 2021 data breach; (2) attackers had obtained administrative access to Ubiquiti’s servers, obtaining access to, among other things, all databases, all user database credentials, and secrets required to forge single sign-on (SSO) cookies; (3) these intruders already had the credentials required to remotely access Ubiquiti’s customers’ systems, as a result; and (4) Ubiquiti’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, as a result of the foregoing.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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