NEW YORK, Feb. 20, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP
(www.kaplanfox.com) is investigating Ubiquiti Networks, Inc.
("Ubiquiti" or the "Company") (Nasdaq: UBNT)
concerning potential violations of the federal securities
laws.
On February 20, 2018, before the
market opened, Ubiquiti filed a report with the U.S. Securities and
Exchange Commission ("SEC") that disclosed the following:
"On February 13, 2018, the [SEC]
issued subpoenas to Ubiquiti [] and
certain of the Company's officers requesting documents and
information relating to a range of topics, including metrics
relating to the Ubiquiti Community, accounting practices, financial
information, auditors, international trade practices, and
relationships with distributors and various other third parties.
The Company is in the process of responding to the requests and
intends to cooperate fully with the SEC."
On February 20, 2018, Ubiquiti
shares declined from a closing price on February 16, 2018 of $74.04 per share, to close at $55.28 per share, a decline of $18.76 per share or over 25% on heavier than
usual volume.
For more information about Kaplan Fox & Kilsheimer
LLP or its investigation of Ubiquiti, you may contact
jcampisi@kaplanfox.com or visit our website
at www.kaplanfox.com.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has decades of experience in prosecuting investor
class actions.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
If you have any questions about this press release, please
contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue; 14th Floor
New York, NY 10022
(212) 687-1980
(800) 290-1952
jcampisi@kaplanfox.com
www.kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
Sand Francisco, CA 94104
(415) 772-4700
lking@kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP