You can completely nerf the "Report Post" capability by removing the following code block in ultimatebb.cgi:
Code
if ($ubb eq 'report_a_post') {
	&RequireCode("$vars_config{CGIPath}/ubb_lib_misc.cgi");
	&report_a_post;
	exit(0);
}    #end report_a_post

Please note that there have been numerous security issues fixed in newer versions of UBB.Classic.

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