CMBM class action alert: Robbins LLP reminds shareholders

SAN DIEGO, May 31, 2024 (GLOBE NEWSWIRE) – Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of individuals and entities who purchased securities of Cambium Networks Corporation (NASDAQ: CMBM) between May 8, 2023 and January 18, 2024. Cambium, together with its subsidiaries, engages in the design, development and manufacture of wireless broadband and Wi-Fi network infrastructure solutions.

For further information please send a form, E-mail Attorney Aaron Dumas, Jr., or call us at (800) 350-6003.

The accusations: Robbins LLP investigates allegations that Cambium Networks Corporation (CMBM) misled investors about its financial prospects

According to the complaint, during the Class Period, defendants failed to represent that: (1) there was a buildup of inventory in the Company’s distribution channels; (2) that the Company and its distributors would likely offer deep discounts to reduce the high inventory levels in the channels; (3) that the Company’s sales would gradually decline until the excess inventory in the channels was sold off; (4) that Cambium would likely incur significant costs to write off excess and obsolete inventory; (5) that, as a result of the foregoing, the Company’s sales 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.

When the truth came to light, the company’s stock price fell, hurting investors.

What now: You may be eligible to participate in the class action lawsuit against Cambium Networks Corporation. Shareholders who wish to serve as lead plaintiff for the class action lawsuit must file their motions with the Court by July 22, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible to receive compensation. If you choose not to take action, you may remain an absent class member. For more information, click here Here.

Representation is on a contingency basis. Shareholders pay neither fees nor expenses.

About Robbins LLP: Some law firms issuing press releases on this matter do not litigate securities class actions; Robbins LLP does. As a recognized leader in shareholder litigation, the attorneys and staff of Robbins LLP Since 2002, we have been committed to helping shareholders recover losses, improve corporate governance, and hold corporate leaders accountable for wrongdoing. Since our founding, we have recovered over $1 billion for our shareholders.

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