According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- there was a buildup of inventory in Cambium’s distribution channels;
- Cambium and its distributors were reasonably likely to offer aggressive discounts to reduce the high channel inventories;
- Cambium’s revenue would decline sequentially until the excess channel inventory was sold through;
- Cambium was likely to incur significant charges to writedown excess and obsolete inventory;
- as a result of the foregoing, Cambium’s fiscal 2023 revenue and earnings would be adversely affected; and
- as a result of the foregoing, defendants’ positive statements about Cambium’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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