Bronstein, Gewirtz & Grossman LLC Announces Investors of Cambium Networks Corporation May Join Class Action Lawsuit

NEW YORK, NY / ACCESSWIRE / June 6, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Cambium Networks Corporation (“Cambium” or “the Company”) (NASDAQ: CMBM) and certain of its officers.

Class definition:

This action seeks to recover damages from defendants for alleged violations of the federal securities laws on behalf of all persons and entities who purchased or otherwise acquired Cambium securities between May 8, 2023 and January 18, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the Company’s website: bgandg.com/CMBM.

Case details:

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the complaint alleges that Defendants failed to disclose to investors that (1) inventory was building up in the Company’s distribution channels; (2) that the Company and its distributors were likely to offer aggressive discounts to reduce the high inventory levels in the channels; (3) that the Company’s revenue would decline sequentially until the excess inventory in the channels was sold off; (4) that Cambium would likely have to incur significant costs to write off excess and obsolete inventory; (5) that as a result of the foregoing, the Company’s revenue and earnings in fiscal year 2023 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.

What’s next?

A class action lawsuit has already been filed. If you would like to review a copy of the lawsuit, you may visit the firm’s website: bgandg.com/CMBM or you may contact Peretz Bronstein, Esq. or his Client Relations Manager Nathan Miller of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Cambium, you have until July 22, 2024 to request that the court appoint you as lead plaintiff. Your ability to share in any compensation is not dependent on your serving as lead plaintiff.

There are no costs for you

We represent investors in class action lawsuits on a contingency basis, meaning we ask the court to reimburse us for our expenses and attorney fees (usually a percentage of the total award) only if we win.

Why Bronstein, Gewirtz & Grossman:

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized law firm representing investors in securities fraud class action lawsuits and shareholder actions involving derivatives trading. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Past results do not guarantee similar results.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | (email protected)

SOURCE: Bronstein, Gewirtz & Grossman, LLC