SOURCE: Levi & Korsinsky, LLP
NEW YORK, NY--(Marketwire - Sep 11, 2012) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Ubiquiti Networks, Inc. ("Ubiquiti" or the "Company") (NASDAQ: UBNT) stock between October 14, 2011 and August 9, 2012.
For more information, click here: http://zlk.9nl.com/ubnt. There is no cost or obligation to you.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding negative trends in the Company's business due to, among other things, counterfeit versions of its Airmax line of products. The counterfeit products reached the market through the use of stolen source codes and designs. On August 9, 2012, Ubiquiti announced that issues with the counterfeit Airmax products were more widespread than originally acknowledged resulting in the Company's stock declining approximately 42%.
If you suffered a loss in Ubiquiti you have until November 6, 2012 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. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/ubnt.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.