Ubiquiti Networks Shareholders Subpoenaed
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An SEC investigation announcement has just been released by Ubiquiti Networks on multiple fronts, including "the Ubiquiti Community, accounting practices, financial information, auditors, international trade practices, and relationships with distributors and various other third parties.”
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Wow
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Another article (for legal services)
This looks more like an Insider Trading issue more than a cash flow issue or other business continuity problems.
Still big news and it needs to be followed closely.
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Ghah!
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It's this related to that phoney article we saw a while back about Ubiquity?
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@travisdh1 said in Ubiquiti Networks Shareholders Subpoenaed:
It's this related to that phoney article we saw a while back about Ubiquity?
Doesn't appear to be based on what I can see, just about shady dealings within the organization. Nothing about the actual business.
People being greedy who were caught is what this looks like.
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@travisdh1 said in Ubiquiti Networks Shareholders Subpoenaed:
It's this related to that phoney article we saw a while back about Ubiquity?
Although, here there is a lead saying it may indeed be tied to that Citron report.
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I call that a nice dip. Bought up some stock and sold for a nice 6% gain on half the shares.
I don't think it will be to bad. It's not like they will be going out of business any time soon. Their products rock and they keep gaining market share.
I don't believe this SEC investigation will change how they go about selling their products.
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Wow! Interesting to follow up.
