The parties in In re Ubiquiti Networks, Inc. Securities Litigation, pending in the United States District Court for the Northern District of California, have reached a proposed settlement of the Action that, if approved, will resolve all claims in the Action.
The Court in charge of this case still has to decide whether to approve the Settlement. If approved by the Court, the Settlement will create a $6,800,000 cash fund, which will earn interest, to be distributed after the deduction of Court-approved fees and expenses among all Settlement Class Members who submit a valid Claim Form and are found to be entitled to a distribution from the Net Settlement Fund.
Please be advised, if you are a Settlement Class Member, your legal rights will be affected by this Settlement whether you act or do not act. The Court has decided, for the purposes of the proposed Settlement, that everyone who fits the following description is a Settlement Class Member and subject to the Settlement, unless they are an excluded person or take steps to exclude themselves:
All persons and entities that purchased or acquired the publicly traded common stock of Ubiquiti pursuant and/or traceable to Ubiquiti’s initial public offering on or about October 14, 2011.
Check your investment records or contact your broker to see if you purchased or acquired the publicly traded common stock of Ubiquiti during the period from October 14, 2011 through May 3, 2012, inclusive. If so, you are presumed to have purchased or acquired your shares pursuant and/or traceable to Ubiquiti’s IPO on or about October 14, 2011. You are not part of the Settlement Class if you only purchased or acquired the publicly traded common stock of Ubiquiti after May 3, 2012, because your purchase or acquisition was not pursuant or traceable to Ubiquiti’s IPO.
Please be sure to read the Notice to fully understand your rights.