Important Deadline Reminder: Kessler Topaz Meltzer & Check, LLP Reminds Camber Energy, Inc. Investors of Securities Fraud Class Action Lawsuit | State
RADNOR, Pa., November 24, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP has announced that a securities class action lawsuit has been filed against Camber Energy, Inc. (“Camber”) (NYSE: CEI). The lawsuit alleges Camber violating US securities laws, including omissions and fraudulent misrepresentations about the business, operations and prospects of the company. Investors have suffered significant losses as a result of Camber’s materially misleading statements.
DEADLINE OF THE LEADING APPLICANT: December 28, 2021
SCHOOL LESSON: February 18, 2021 by October 4, 2021
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Duty free (844) 887-9500 or email to firstname.lastname@example.org
CAMBER’S SPECIFIED FAULT BEHAVIOR
Camber is an independent oil and natural gas company that primarily purchases, develops and sells crude oil, natural gas and natural gas liquids. Between December 2020, and February 18 In 2021, Camber acquired a controlling interest in Viking Energy Group, Inc. (“Viking”) and signed a definitive merger agreement with Viking to effect the full combination of the two companies (the “Merger”). on February 18, 2021, Camber issued a press release regarding the merger and announced the acquisition of Viking.
The truth was beginning to emerge May 24, 2021 as Camber revealed in a press release that on May 21, 2021, the New York Stock Exchange announced to Camber that it was not meeting its rolling listing standards because Camber had failed to file Form 10-K for the past 9 month period December 31, 2020. Among other reasons, Camber alleged that its non-compliance was due to “issues related to … [Camber]Acquired a majority stake in Viking. “Following the news, Camber’s share price fell $ 0.04 per share, or 6.56% to close on $ 0.57 per share May 25, 2021.
Then, on October 5, 2021Kerrisdale Capital shocked the market when it released a report stating, “Camber is a defunct oil producer that has since filed no financial statements with the SEC”. September 2020, is at risk of its stock being delisted next month and didn’t lay off its accounting firm until September. “Kerrisdale Capital also announced that Camber’s” only real asset is a 73% interest in ” [Viking], an OTC-traded negative book value company with a going concern warning that recently breached maximum leverage on one of its loans. “
Following the news, Camber’s share price fell $ 1.56 per share, or 50.49% to close on $ 1.53 per share October 5, 2021.
Fall Investors can not later than December 28, 2021, seek to be appointed as lead class agent through Kessler Topaz Meltzer & Check, LLP, or other legal counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages camber investors who have suffered significant losses to contact the company directly for more information.
Who can be a lead plaintiff?
A lead plaintiff is a representative party who acts on behalf of each of the class plaintiffs in the conduct of the dispute. The main plaintiff is usually the investor or small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects an attorney to represent the lead plaintiff and the group, and those attorneys, if approved by the court, are lead or class plaintiffs. Your ability to participate in a recovery will not be affected by whether or not you wish to be the lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP pursues class action lawsuits in state and federal courts across the country and worldwide. The company has built a worldwide reputation for excellence and reclaimed billions of dollars for victims of corporate fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by companies and trustees. Ultimately, we succeeded if the bad guys pay and you get your wealth back. The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topas Meltzer & Check, LLP
(844) 887-9500 (toll free)
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