SOURCE: Kahn Swick & Foti, LLC
NEW ORLEANS, LA--(Marketwire - Sep 16, 2012) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 6, 2012 to file lead plaintiff applications in a securities class action lawsuit against Ubiquiti Networks, Inc. (NASDAQ: UBNT), if they purchased the Company's common stock during the period between October 14, 2011 and August 9, 2012 (the "Class Period"), and/or who acquired Ubiquiti common stock pursuant or traceable to the Company's October 14, 2011 initial public offering ("IPO"). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Ubiquiti Networks, Inc. and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (email@example.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by November 6, 2012.
About the Lawsuit
On August 10, 2012, shares of Ubiquiti Networks declined $6.30 per share to close at $8.71 per share, a one-day decline of nearly 42%, after Ubiquiti announced disappointing guidance for the first quarter of fiscal 2013, and revealed that the sale of unauthorized copies of its products was having and would continue to have a detrimental impact on future results.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.