Cambium Networks Faces Class-Action Lawsuit Over Securities Fraud

Cambium Networks is the target of a class-action lawsuit accusing the company of securities fraud.

Levi & Korsinsky, a New York-based law firm, filed the suit against the wireless infrastructure provider in an attempt to recover the losses that shareholders may have experienced between May 2023 and January 2024.

Cambium Networks made false claims and/or deceived its shareholders, the lawsuit argues, through statements falsely claiming that there was a buildup of inventory, that Cambium was going to offer discounts because of that build-up and that the company's revenue would be adversely affected by the large amount of potentially obsolete inventory.

Representatives from Cambium Networks did not immediately respond to requests for comment from Channel Futures.

Shareholders can reach out to Levi and Korsinsky if they experienced a loss due to the company's alleged fraud.

Cambium Expands ConnectedPartner Program

Meantime, Cambium on Monday launched additional partner levels for its ConnectedPartner channel program. This update includes additional discounts, joint marketing opportunities, concierge services and more.

The updated plan has the One Network at the center of its initiative, a deal that will help partners manage wired and wireless broadband and Wi-Fi network edge technologies more simply, the company said.

Amicus Networx's Dave Elder

Amicus Networx, a division of Safety NetAccess, is a Cambium Networks partner.

"Whether they are generating new business opportunities, or we are collaborating on a marketing campaign or event, Cambium has been easy to work with, and we've seen several new projects in a short amount of time," said Dave Elder, managing director of strategic partnerships at Amicus.