Berman Tabacco Investigates Potential Securities Claims Against Ubiquiti Inc. (UI) Concerning January 2021 Data Breach

Boston, Massachusetts--(Newsfile Corp. - April 2, 2021) - Berman Tabacco, a national law firm representing investors, is investigating potential securities law violations by Ubiquiti Inc. ("Ubiquiti" or the "Company") (NYSE: UI). Ubiquiti develops high performance networking technology for service providers, enterprises and consumers.

On January 11, 2021, Bloomberg reported was reported that Ubiquiti alerted customers to a data breach and that the Company stated that it had "no indication that there has been unauthorized activity with respect to any user's account."

On March 30, 2021, KrebsonSecurity.com posted an article entitled "Whistleblower: Ubiquiti Breach 'Catastrophic'" alleging that "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." The article stated that "[a] security professional at Ubiquiti who helped the company respond to the two-month breach beginning in December 2020 contacted KrebsOnSecurity after raising his concerns with both Ubiquiti's whistleblower hotline and with European data protection authorities."

In response to this news, Ubiquiti's share price fell from its March 29, 2021 close of $376.78 per share to close at $289.15 per share on April 1, 2021, a decline of $87.63 per share or 23%.

If you purchased Ubiquiti common stock from January 11, 2021 to the present and would like more information regarding this investigation, or if you wish simply to share information about the investigation, please visit: https://www.bermantabacco.com/case/ubiquiti-inc/.

Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate and board misconduct and violations of the securities and antitrust laws. The firm has offices in Boston, Massachusetts and San Francisco, California.

This notice may constitute attorney advertising.

Contact:

Jay Eng, Esq.

(800) 516-9926

Email: law@bermantabacco.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79325