In re Ubiquiti Networks, Inc.
In re Ubiquiti Networks, Inc. Securities Litigation
18-CV-01620 (VM)

Welcome to the In re Ubiquiti Networks, Inc. Securities Litigation Website

The information contained on this website is only a summary of the information presented in more detail in the approved Notice of Settlement of Class Action. Because this website is just a summary, you should review the Notice for additional details.

 

Summary of the Action

This settlement resolves the case known as In re Ubiquiti Networks, Inc. Securities Litigation, Docket No. 1:18-cv-01620-VM (S.D.N.Y.). The Court in charge of the case is the United States District Court for the Southern District of New York. The Litigation involves allegations that Defendants violated provisions of the Securities Exchange Act of 1934 (“Exchange Act”) by allegedly making misrepresentations and/or omissions of material fact in public statements to the investing public regarding: (i) the purported size of the Company’s user community; (ii) the Company’s internal controls; (iii) the Company’s publicly reported accounts receivable figures; (iv) the Company’s purported “disruptive business model”; (v) the Company’s forecasts for the second quarter of fiscal 2018; (vi) related-party transactions; and (vii) an SEC investigation into the Company. The Consolidated Amended Complaint For Violations Of The Federal Securities Laws (the “Complaint”) alleges that the misstatements or omissions artificially inflated the price of Ubiquiti Securities, and that the share prices dropped in response to certain subsequent disclosures. Defendants have denied and continue to deny each, any and all allegations of wrongdoing, fault, liability or damage whatsoever asserted in the Litigation. 

If approved by the Court, the Settlement will provide $15,000,000 gross (the “Settlement Amount”), plus interest as it accrues, minus attorneys’ fees, costs, a compensatory award to Lead Plaintiff and administrative expenses, net of any taxes on interest, to pay claims of investors who purchased Ubiquiti Securities during the Settlement Class Period.

The Settlement Class consists of:

All persons or entities, except those who are excluded as described in the Notice, who purchased or otherwise acquired Ubiquiti Common Stock or Ubiquiti Call Options or sold Ubiquiti Put Options between May 9, 2013 and February 19, 2018, both dates inclusive.

If one of your mutual funds owns Ubiquiti Securities, that alone does not make you a Settlement Class Member. Also, if you sold Ubiquiti Securities during the Settlement Class Period, that alone does not make you a Settlement Class Member. You are a Settlement Class Member only if you directly purchased or otherwise acquired Ubiquiti Common Stock or Ubiquiti Call Options or sold Ubiquiti Put Options during the Settlement Class Period. Contact your broker to see if you have made any of these transactions.

If you are a member of the Settlement Class, your legal rights will be affected whether you act or do not act. Please read the Notice to fully understand your rights and options.

Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, and only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.

 

YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:

SUBMIT A CLAIM FORM

The only way to get a payment from the Settlement. Proof of Claim forms must be postmarked or submitted online no later than April 3, 2020

EXCLUDE YOURSELF

Deadline has passed.

OBJECT

Deadline has passed.

GO TO THE HEARING

Deadline has passed.

SETTLEMENT HEARING

The Court held the Settlement Hearing on March 27, 2020.

DO NOTHING

Get no payment. Give up your rights.

How do I obtain more information?

Detailed information about the Action and the Settlement is contained in the Notice. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-844-924-0858; or emailing info@UbiquitiNetworksSecuritiesLitigation.com or mailing a letter to:

 

In re Ubiquiti Networks, Inc. Securities Litigation
c/o JND Legal Administration
PO Box 91335
Seattle, WA 98111

 

Inquiries should NOT be directed to the Court or the Clerk of the Court.

For More Information

Visit this website often to get the most up-to-date information.

Mail

In re Ubiquiti Networks, Inc. Securities Litigation
c/o JND Legal Administration
PO Box 91335
Seattle, WA 98111