Cambium Networks Corporation
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Cambium Networks Corporation (“Cambium” or the “Company”) (NASDAQ: CMBM) securities during the period of May 8, 2023 through January 18, 2024, inclusive (“the Class Period”). Investors have until July 22, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges 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; and (5) that, as a result of the foregoing, the Company's fiscal 2023 revenue and earnings would be adversely affected.
The lawsuit alleges 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; and (5) that, as a result of the foregoing, the Company's fiscal 2023 revenue and earnings would be adversely affected.