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Ubiquiti Investors Seek OK On $6.8M Deal Ending IPO Suit

Law360, New York (August 7, 2017, 8:22 PM EDT) -- Investors in Ubiquiti Networks Inc. have reached a $6.8 million deal to end their proposed class action alleging that the broadband wireless company misled them by downplaying its problems with counterfeiters ahead of its October 2011 initial public offering, according to documents filed Friday in California federal court.

Lead plaintiffs Bristol County Retirement System and Inter-Local Pension Fund GCC/IBT asked the court to grant preliminary approval to the deal and tentatively certify a settlement class consisting of investors who purchased Ubiquiti common stock pursuant to its...
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