Ubiquiti Networks, Inc. is an American technology company that manufactures and sells wireless data communication and wired products for enterprises and homes under multiple brand names.

According to the law firm press release, the lawsuit alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that (i) the number of the Company's purported user community was drastically overstated; (ii) that it had exaggerated its publicly reported accounts receivable; and (iii) that as a result of the foregoing, Ubiquiti's publicly disseminated financial statements were materially false and misleading.

On November 20, 2017, the first identified case was voluntarily dismissed. A related case filed under Docket 17-CV-07524 continues. On November 29, 2017, the related case was voluntarily dismissed.