NEW YORK, July 19, 2024 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds investors a shareholder filed a class action lawsuit on behalf of all purchasers of securities of Cambium Networks Corporation (NASDAQ: CMBM) between May 8, 2023 and January 18, 2024. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by July 22, 2024.
To join the Cambium class action, go to https://rosenlegal.com/submit-form/?case_id=25517 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com.
The Rosen Law Firm is investigating the Allegations that Cambium Networks Corporation (NASDAQ: CMBM) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) there was a buildup of inventory in Cambium's distribution channels; (2) Cambium and its distributors were reasonably likely to offer aggressive discounts to reduce the high channel inventories; (3) Cambium'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, Cambium's fiscal 2023 revenue and earnings would be adversely affected; and (6) as a result of the foregoing, defendants' positive statements about Cambium's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Cambium Networks Corporation. The deadline to file a motion to be appointed as lead plaintiff is July 22, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, go to https://rosenlegal.com/case/cambium-networks-corporation/
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
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