Levi & Korsinsky, LLP announces that a UI class action lawsuit has been filed on behalf of investors who purchased Ubiquiti Inc. (UI) securities between January 11, 2021 and March 20, 2021. For more on the UI Lawsuit please contact us today.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company had downplayed the data breach in January 2021; (2) attackers had obtained administrative access to Ubiquiti’s servers and obtained access to, among other things, all databases, all user database credentials, and secrets required to forge single sign-on (SSO) cookies; (3) as a result, intruders already had credentials needed to remotely access Ubiquiti’s customers’ systems; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in you have until July 19, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.