Oklahoma City, OK (March 6, 2018) – On February 21, 2018, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against Ubiquiti Networks, Inc. (NASDAQ: UBNT). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is May 9, 2013 through February 20, 2018. More specifically, this litigation was filed because on September 18, 2017, Citron Research issued a report entitled “Citron Exposes Ubiquiti Networks,” (the “Citron Report”) in which Citron detailed a series of “alarming red flags,” indicating that the Company had been deceiving investors and was engaged in “corporate fraud,” including, among other things, that the Company had misrepresented the size of its purported “Ubiquiti Community,” as well as its levels of accounts receivable, among other things.

On February 20, 2018, Ubiquiti filed a form 8-K with the Securities and Exchange Commission stating, in material part: “On February 13, 2018, the Securities and Exchange Commission (the ‘SEC’) issued subpoenas to Ubiquiti Networks, Inc. (the ‘Company’) and certain of the Company’s officers requesting documents and information relating to a range of topics, including metrics relating to the Ubiquiti Community, accounting practices, financial information, auditors, international trade practices, and relationships with distributors and various other third parties.”

On the news of the SEC subpoenas, Ubiquiti’s share price fell from $74.04 to close at $55.28 on February 20, 2018.

Plaintiff seeks to recover damages on behalf of all Ubiquiti Networks, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, April 23, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

To join this class action, click here to obtain an investor certification. Once complete, please email this form to rkh@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.