San Diego, CA -- (SBWire) -- 09/22/2021 --Certain directors of Ubiquiti Inc. are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in Ubiquiti Inc. (NYSE: UI) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: UI stocks follows a lawsuit filed against Ubiquiti Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: UI stocks, concerns whether certain Ubiquiti Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants, in their statements concerning the data breach, failed to speak fully and truthfully because they failed to disclose to investors that the Company had downplayed the data breach in January 2021, that attackers had obtained administrative access to Ubiquiti's servers and obtained access to, among other things, all databases, all user database credentials, and secrets required to forge single sign-on (SSO) cookies, that, as a result, intruders already had credentials needed to remotely access Ubiquiti's customers' systems, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Ubiquiti Inc. (NYSE: UI) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NYSE:UI Long Term Investor Alert: Investigation of Potential Wrongdoing at Ubiquiti Inc.
An investigation on behalf of current long term investors in Ubiquiti Inc. (NYSE:UI) shares over possible breaches of fiduciary duty by certain officers and directors was announced.