PITTSBURGH, Oct. 1, 2012 /PRNewswire/ -- Notice is
hereby given by the Law Office of Alfred G.
Yates Jr., P.C. that it has filed a class action the United
States District Court for the Northern District of California on behalf of purchasers of Ubiquiti
Networks, Inc. ("Ubiquiti") (Nasdaq: UBNT) 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").
If you wish to discuss this action or have any questions
concerning this notice or your rights or interests, please contact
plaintiff's counsel, Alfred G. Yates Jr.,
Esquire at 1-800-391-5164, toll free, or at yateslaw@aol.com
by e-mail. Please visit http://yatesclassactionlaw.com for more
information. Any member of the putative class may move the Court to
serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain an absent class member. If you wish
to serve as lead plaintiff, you must move the Court no later than
November 6, 2012.
The complaint charges Ubiquiti, certain of its officers and
directors and the underwriters of its IPO with violations of the
Securities Exchange Act of 1934 and the Securities Act of
1933. The complaint alleges that during the Class Period and
in the Registration Statement and Prospectus issued in connection
with the IPO, defendants issued materially false and misleading
statements regarding the Company's business practices and financial
results. Specifically, defendants failed to disclose negative
trends in Ubiquiti's business, including widespread problems
associated with counterfeit versions of its AirMax wireless gear
being made available to the market. As a result of
defendants' false statements, Ubiquiti stock traded at artificially
inflated prices during the Class Period, reaching a high of
$35 per share on May 1, 2012.
Plaintiff seeks to recover damages on behalf of all purchasers
of Ubiquiti common stock during the Class Period and/or who
acquired Ubiquiti common stock pursuant or traceable to the
Company's October 14, 2011 IPO.
The firm is also investigating actions on behalf of shareholders
for the following companies: American Greetings Corp. (NYSE: AM);
American Realty Capital Trust, Inc. (Nasdaq: ARCT); Audience, Inc.
(Nasdaq: ADNC); Questcor Pharmaceuticals, Inc. (Nasdaq: QCOR),
Sealy Corporation (NYSE: ZZ), and West Coast Bancorp (Nasdaq:
WCBO).
If you are a shareholder of any of the above companies and wish
learn more about any of the investigations or have any questions,
please contact Alfred G. Yates Jr.,
Esquire at 1-800-391-5164, toll free, or at yateslaw@aol.com
by e-mail.
Contact:
Alfred G. Yates, Jr.
(412) 391-5164 or Toll Free:
1(800) 391-5164, fax (412) 471-1033
website: http://yatesclassactionlaw.com
email: yateslaw@aol.com
SOURCE Law Office of Alfred G. Yates
Jr., P.C.