Cambium Networks Corporation

Registration Deadline:

07/22/2024

A securities class action has been filed in the USDC N.D.IL. against Cambium Networks Corporation (CMBM) (“Cambium” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Cambium securities Inc. between May 8, 2023 and January 18, 2024, both dates inclusive (the “Class Period”).

 

Cambium, together with its subsidiaries, engages in the design, development, and manufacture of wireless broadband and Wi-Fi networking infrastructure solutions. The Company’s products are used in broadband access, public safety, defense communications networks, and WiFi access applications. Its product lines fall under three broad, interrelated categories: (i) fixed wireless broadband, which includes point-to-point and point-to-multipoint architectures; (ii) Enterprise networking; and (iii) Subscription and Services. Cambium sells its products primarily through its network of approximately 160 distributors who sell to other channel partners.

 

The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that:

 

(1) that there was a buildup of inventory in the Company’s distribution channels;

(2) that the Company and its distributors were reasonably likely to offer aggressive discounts to reduce the high channel inventories;

(3) that the Company’s revenue would decline sequentially until the excess channel inventory was sold through;

(4) that Cambium was likely to incur significant charges to writedown excess and obsolete inventory;

(5) that, as a result of the foregoing, the Company’s fiscal 2023 revenue and earnings would be adversely affected; and

(6) that, 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, thereby harming investors.

If you purchased Cambium securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

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