The PennZone

  • Home
  • Business
  • Health
  • Non-profit
  • Technology
  • Music
  • Manufacturing
  • Services
  • Entertainment

INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Ubiquiti Inc. (UI) on Behalf of Investors
The PennZone/10119095

Trending...
  • Mark Schork Selected As 'Board Observer' By Philadelphia Bar Foundation
  • Long Long Tales: Bilingual Cartoon Series on Youtube Celebrating Chinese New Year
  • NOW OPEN - New Single Family Home Community in Manalapan
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Ubiquiti Inc. ("Ubiquiti" or the "Company") (NYSE: UI) investors concerning the Company's possible violations of federal securities laws.

On January 11, 2021, Ubiquiti disclosed that a breach involving a third-party cloud provider had exposed customer account credentials.

On this news, Ubiquiti's share price fell $13.69 per share, or 5%, over the next two trading days, damaging investors.

Then on March 30, 2021, the Krebs on Security posted an article entitled "Whistleblower: Ubiquiti Breach 'Catastrophic'" stating that "[n]ow a source who participated in the response to that breach alleges Ubiquiti massively downplayed a 'catastrophic' incident to minimize the hit to its stock price, and that the third-party cloud provider claim was a fabrication." Further, the article quoted a letter from the source to the European Data Protection Supervisor stating "[i]t was catastrophically worse than reported, and legal silenced and overruled efforts to decisively protect customers" and "[t]he breach was massive, customer data was at risk, access to customers' devices deployed in corporations and homes around the world was at risk."

More on The PennZone
  • Openchannelflow Wins Web Excellence Award for Outstanding Digital Experience
  • STS Capital Partners' Andy Harris Co-Authors 'The Extraordinary Exit,' A Practical Guide for Business Owners Considering a Sale
  • One-Click Pro Audio for Streamers: "VoiceSterize" Automates Noise Reduction & Mastering on Mac
  • Sole Publishing Announces Essential Parenting Book for Families Navigating the Teen Years
  • From Factory Floor to Community Heart: The Rebel Spirit of Wisconsin's Wet Wipe Innovators

On this news, Ubiquiti's share price fell $27.78, or 7%, to close at $349.00 per share on March 30, 2021. The stock price continued to decline by $50.70, or 14.5%, over the next trading session to close at $298.30 per share on March 31, 2021, thereby injuring investors further.

If you purchased Ubiquiti Inc. securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Filed Under: Business

Show All News | Report Violation

0 Comments
1000 characters max.

Latest on The PennZone
  • Power Business Solutions Announces Joint Venture with EIG Global Trust to Deliver Data Center Financial Solutions
  • Scoop Social Co. Partners with Fairmont Hotels & Resorts to Elevate Summer Guest Experiences with Italian Inspired Gelato & Beverage Carts
  • Buildout Launches Native Email Marketing Feature, Expanding Its End-to-End CRE Platform
  • New Saxophone Prize Honors Astronaut Ronald E. McNair, First To Play Sax In Space
  • Building a $145M AI-Powered Marine Platform as Listings Surge, Global Expansion Begins, OTH Shares Trade at a Discount: Off The Hook YS (N Y S E: OTH)
  • American Disabilities Act Must Protect Against Forced Psychiatric Commitment and Treatment
  • 2025 Top Lawyers - ELA Awards by Expert Law Attorneys
  • Top Law Firms In 2025 - Expert Law Attorneys
  • Best Personal Injury Attorneys Of 2025 - ELA Awards
  • Best Personal Injury Law Firms 2025 - ELA Awards
  • Baruch Arcade Launches AI-Powered Gaming Platform on Solana, do I smell an airdrop?
  • Expert Law Attorneys 2025 Best Attorneys
  • Best Family Law Attorneys Of 2025 - ELA Awards
  • Best Criminal Defense Attorneys Of 2025 - ELA Awards
  • Americans Need $1.26 Million to Retire But Have Just $38K Saved — So They're Building Income Instead
  • Does EMDR Really Work? New Article Explores How Trauma Gets Stuck in the Brain and How Healing Begins
  • New Medium Article Explores Why Emotional Conversations Fail and What Most People Don't Understand About Connection
  • $80 Million Revenue Backlog for AI Cybersecurity Company Building the Future of Integrated Cybersecurity and Public Safety: $CYCU
  • The Brave and the Rescued Honors LA Fire Department First Responders
  • Slick Cash Loan shares credit score tips for borrowers using bad credit loans

Popular on PennZone

  • Neurosurgeon Chengyuan Wu, MD, MSBmE, Joins the Actuated Medical Advisory Board - 265
  • Pawprint Oxygen Turns Pet Safety Viral With "Pets Live Here" Window Decals — Helping First Responders Save Lives
  • IQSTEL Enters 2026 from a Position of Strength Following Transformational Year Marked by N A S D A Q Uplisting, Record Revenue and First-Ever
  • Lacy Hendricks Earns Prestigious MPM® Designation from NARPM®
  • OneSolution® Expands to Orlando with New Altamonte Springs Implant Center
  • Appliance EMT Expands Professional Appliance Repair Services to Hartford, Connecticut
  • Mark Schork Selected As 'Board Observer' By Philadelphia Bar Foundation
  • Custom Home Builder Connecticut Valley Homes Wins 2025 Home of the Year from the Modular Home Builders Association
  • Robert DeMaio, Phinge Founder & CEO, Ranked #1 Globally on Crunchbase, Continues to Convert Previous Debt Owed to Him by Phinge into Convertible Notes
  • Yunishigawa Onsen's Annual "Kamakura Festival" will be held January 30 – March 1, 2026

Similar on PennZone

  • Openchannelflow Wins Web Excellence Award for Outstanding Digital Experience
  • UK Financial Ltd Lists MayaFund (MFUND) ERC-20 Token on CATEX Exchange Ahead of Planned ERC-3643 Upgrade
  • Benjamin Ross Group Has Secured Financing for a Company with a Sale Price of $1,050,000
  • Roblox and Solsten Alliances; a Stronger Balance Sheet and Accelerated Growth Through AI, Gaming, and Strategic Partnerships for Super League: $SLE
  • Scoop Social Co. Partners with Fairmont Hotels & Resorts to Elevate Summer Guest Experiences with Italian Inspired Gelato & Beverage Carts
  • Building a $145M AI-Powered Marine Platform as Listings Surge, Global Expansion Begins, OTH Shares Trade at a Discount: Off The Hook YS (N Y S E: OTH)
  • Americans Need $1.26 Million to Retire But Have Just $38K Saved — So They're Building Income Instead
  • Does EMDR Really Work? New Article Explores How Trauma Gets Stuck in the Brain and How Healing Begins
  • New Medium Article Explores Why Emotional Conversations Fail and What Most People Don't Understand About Connection
  • $80 Million Revenue Backlog for AI Cybersecurity Company Building the Future of Integrated Cybersecurity and Public Safety: $CYCU
Copyright © The PennZone | Theme: OMag by LilyTurf Themes
  • Contribute
  • Privacy Policy
  • Terms of Service
  • Contact Us