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Ubiquiti Networks Inc (NASDAQ:UBNT) Investor Alert: Investigation over potential Wrongdoing

An investigation on behalf of investors of Ubiquiti Networks Inc (NASDAQ:UBNT) shares over potential breaches of fiduciary duties was announced and NASDAQ:UBNT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

FOR IMMEDIATE RELEASE

 
 
mail@shareholdersfoundation.com
mail@shareholdersfoundation.com
PRLog (Press Release) - Oct. 9, 2012 - Certain officer and directors of Ubiquiti Networks Inc (NASDAQ:UBNT) are under investigation over possible breaches of fiduciary duties in connection with certain financial statements made by Ubiquiti Networks Inc.

If you purchased shares of Ubiquiti Networks Inc (NASDAQ:UBNT) shares, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses concerns whether certain of its officers and directors of Ubiquiti Networks Inc have possibly breached their fiduciary duties owed to NASDAQ:UBNT investors in connection with certain financial statements made by Ubiquiti Networks Inc. Specifically, the investigation focuses on whether a series of statements by Ubiquiti Networks Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Ubiquiti Networks Inc (NASDAQ:UBNT) reported that its Total Revenue increased from $63.12 million for the 12 months period that ended on June 30, 2009, to $353.52 million for the 12 months period that ended on June 30, 2012, and that its Net Income for the same time periods rose from $9.89million to $10.259 million.

Shares of Ubiquiti Networks Inc (NASDAQ:UBNT) traded on May 1, 2012 as high as $35 per share and have since then lose substantially in value.

Then on August 9, 2012, Ubiquiti Networks Inc reported its fourth quarter fiscal 2012 results. Among other things, of Ubiquiti Networks Inc said that the amount of counterfeited goods, combined with the impact it has on its distributor’s inventory and the purchasing patterns of itsbcustomers, will impact its business outlook for the next two fiscal quarters.

Shares of Ubiquiti Networks Inc (NASDAQ:UBNT) fell from $15.01 per share on August 9, 2012, to $8.605 per share on August 10, 2012.

Those who purchased shares of Ubiquiti Networks Inc (NASDAQ:UBNT) and currently hold those Ubiquiti Networks Inc shares, may have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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Contact Email:
***@shareholdersfoundation.com Email Verified
Source:Shareholders Foundation, Inc.
Phone:+1-(858)-779-1554
Zip:92108
City/Town:San Diego - California - United States
Industry:Banking, Finance
Tags:Ubiquiti Networks Inc, NASDAQ:UBNT, securities class action, class action, lawsuit
Shortcut:prlog.org/11994345
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