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Robbins Geller Rudman & Dowd LLP Files Class Action Suit against Ubiquiti Networks, Inc.

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Robbins
Geller Rudman & Dowd LLP
("Robbins Geller") (http://www.rgrdlaw.com/cases/ubiquitinetworks/)
today announced that a class action has been commenced on behalf of
purchasers of Ubiquiti Networks, Inc. ("Ubiquiti") (NASDAQ:UBNT) common
stock during the period between August 3, 2017 and February 20, 2018
(the "Class Period"). This action was filed in the Southern District of
New York and is captioned Kho v. Ubiquiti Networks, Inc., No.
18-cv-02242.

If you wish to serve as lead plaintiff, you must move the Court no later
than 60 days from February 22, 2018. If you wish to discuss this action
or have any questions concerning this notice or your rights or
interests, please contact plaintiff's counsel, David
C. Walton
of Robbins Geller at 800/449-4900 or 619/231-1058, or via
e-mail at davew@rgrdlaw.com. If
you are a member of this class, you can view a copy of the complaint as
filed at http://www.rgrdlaw.com/cases/ubiquitinetworks/.
Any member of the putative class may move the Court to serve as lead
plaintiff through counsel of their choice, or may choose to do nothing
and remain an absent class member.

The complaint charges Ubiquiti and certain of its officers with
violations of the Securities Exchange Act of 1934. Ubiquiti develops
technology platforms for hi-capacity distributed Internet access,
unified information technology, and next-generation consumer electronics
for home and personal use. Ubiquiti claims that the key to keeping costs
disruptively low is eschewing a traditional sales force in favor of the
"Ubiquiti Community," explaining that its "business model is driven by a
large, growing and highly engaged community of service providers,
distributors, value added resellers, systems integrators and corporate
IT professionals, which [the Company] refer[s] to as the Ubiquiti
Community."

The complaint alleges that during the Class Period, defendants made
false and misleading statements and/or failed to disclose material
adverse facts about the Company's business, operations and prospects.
Specifically, the complaint alleges that during the Class Period,
Ubiquiti had been inaccurately reporting its operating metrics and using
improper accounting practices, including overstating the number of
actual registered users participating in the Ubiquiti Community, as well
as the levels and importance of their engagement with the Ubiquiti
Community; overstating accounts receivable; and overstating the profits
derived from the Company's U.S. operations and thus its U.S. operations
profit margins. In addition, much of Ubiquiti's distributor network was
made up of overseas entities and individuals who were doing business in
sanctioned countries and in jurisdictions identified by the Financial
Action Task Force as "noncooperative jurisdictions" with regard to
anti-money laundering regulations. As a result of these false statements
and/or omissions, the price of Ubiquiti common stock was artificially
inflated to as high as $81.74 per share during the Class Period.

On September 18, 2017, Citron Research issued a report detailing
a series of "alarming red flags" indicating that the Company had been
deceiving investors and was engaged in "fraud," including, among other
things, misrepresenting the size of its purported "Ubiquiti Community,"
as well as its levels of accounts receivable. This partial disclosure
caused Ubiquiti's stock price to fall $4.33 per share, or nearly 8%, to
close at $50.62 per share on September 18, 2017.

On November 9, 2017, Ubiquiti acknowledged it had inflated the size of
the Ubiquiti Community due to a purported "reporting error" and admitted
in an SEC filing that it had only about 609,000 registered users, not
the 4 million it had repeatedly reported in its SEC filings. Then, on
February 20, 2018, the Company filed a Form 8-K disclosing that on
February 13, 2018, the SEC had issued subpoenas to Ubiquiti and certain
of the Company's officers requesting documents and information regarding
a range of topics, including metrics relating to the Ubiquiti Community
and the Company's accounting practices, financial information, auditors,
international trade practices, and relationships with distributors and
various other third parties. Following the disclosure that the SEC had
served subpoenas on the Company, the price of Ubiquiti common stock
plummeted, falling $18.76 per share, or more than 25%, from its close of
$74.04 per share on February 16, 2018, to close at $55.28 per share on
February 20, 2018.

Plaintiff seeks to recover damages on behalf of all purchasers of
Ubiquiti common stock during the Class Period (the "Class"). The
plaintiff is represented by Robbins Geller, which has extensive
experience in prosecuting investor class actions including actions
involving financial fraud.

Robbins Geller is widely recognized as a leading law firm advising and
representing U.S. and international investors in securities litigation
and portfolio monitoring. With 200 lawyers in 10 offices, Robbins Geller
has obtained many of the largest securities class action recoveries in
history. For the third consecutive year, the Firm ranked first in both
the total amount recovered for investors and the number of shareholder
class action recoveries in ISS's SCAS Top 50 Report. Robbins Geller
attorneys have shaped the law in the areas of securities litigation and
shareholder rights and have recovered tens of billions of dollars on
behalf of the Firm's clients. Robbins Geller not only secures recoveries
for defrauded investors, it also implements significant corporate
governance reforms, helping to improve the financial markets for
investors worldwide. Please visit http://www.rgrdlaw.com
for more information.

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