Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Cambium Networks Corporation (NASDAQ: CMBM) securities.
If you suffered a loss on your Cambium Networks investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: May 08 2023 - Jan 18 2024
CASE DETAILS: The filed complaint alleges that Cambium Networks Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) there was a buildup of inventory in the Company’s distribution channels; (2) the Company and its distributors were reasonably likely to offer aggressive discounts to reduce the high channel inventories; (3) the Company’s revenue would decline sequentially until the excess channel inventory was sold through; (4) Cambium was likely to incur significant charges to writedown excess and obsolete inventory; (5) as a result of the foregoing, the Company’s fiscal 2023 revenue and earnings would be adversely affected; and (6) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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