LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz continues its investigation of Cambium Networks Corporation (“Cambium Networks” or the “Company”) (NASDAQ: CMBM) on behalf of investors concerning the Company’s possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On October 4, 2023, Cambium Networks issued a press release announcing its preliminary results for the third quarter of 2023. Therein, the Company disclosed that it now “expects revenues of between $40.0-$45.0 million compared to the previous outlook of $62.0-$70.0 million provided on Aug. 1, 2023.” The Company attributed the downward revision to a delay in government defense orders, sluggish revenues in the Point-to-Multi-Point business, a decrease in orders and an increase in stock rotations from distributors in the Enterprise business, and “continued economic headwinds.”
On this news, Cambium Networks’ stock price fell $2.87, or 36.2%, to close at $5.05 per share on October 5, 2023, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Cambium Networks securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
