RADNOR, Pennsylvania., December 11, 2021 / PRNewswire / – Law firm Kessler Topaz Meltzer & Check, LLP advises investors that a securities class action lawsuit has been filed against Camber Energy, Inc. (“Camber”) (NYSE: CEI). The action accuses Camber of violations of federal securities laws, including fraudulent omissions and misrepresentation regarding the business, operations and prospects of the company. As a result of Camber’s materially misleading statements, investors suffered significant losses.
CAN’T WATCH THIS VIDEO? PLEASE CLICK HERE
CLICK HERE TO SUBMIT YOUR CAMBER LOSS
PRINCIPAL COMPLAINANT DEADLINE: December 28, 2021
COURSE PERIOD: February 18, 2021 through October 4, 2021
CONTACT A LAWYER TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Free (844) 887-9500 or by email at [email protected]
CAMBER ALLEGED FAULT
Camber is an independent oil and gas company that acquires, develops and sells primarily crude oil, natural gas and natural gas liquids. Included between december 2020, and February 18 2021, Camber acquired a controlling interest in Viking Energy Group, Inc. (“Viking”) and signed a definitive merger agreement with Viking to complete the full combination of the two entities (the “Merger”). At February 18, 2021, Camber issued a press release regarding the merger and touted the Viking acquisition.
The truth began to emerge on May 24, 2021 when Camber revealed in a press release that the May 21, 2021, the New York Stock Exchange informed Camber that it was not in compliance with its continuous listing standards because Camber did not file its Form 10-K for the completed 9-month period December 31, 2020. In addition to other reasons, Camber blamed its lack of compliance on “issues that arose in finalizing the determination of the fair value of the assets and liabilities associated with [Camber]the acquisition of a majority stake in Viking. As a result of this news, Camber’s share price fell by $ 0.04 per share, or 6.56%, to close at $ 0.57 per share on May 25, 2021.
Then on October 5, 2021, Kerrisdale Capital shocked the market by issuing a report stating that “Camber is a former oil producer who has not filed financial statements with the SEC since. September 2020, risks seeing its shares delisted next month and has just dismissed its accounting firm in September. [Viking], an over-the-counter company with a negative book value and a going concern warning that recently breached the maximum debt commitment on one of its loans. “
Following this news, Camber’s share price fell $ 1.56 per share, or 50.49%, to close at $ 1.53 per share on October 5, 2021.
WHAT CAN I DO?
Curvature investors can, not later than December 28, 2021, seek to be appointed as the principal representative of class claimants through Kessler Topaz Meltzer & Check, LLP or other attorney, or may choose to do nothing and remain an absent member of the class. Kessler Topaz Meltzer & Check, LLP encourages Camber investors who have suffered significant losses to contact the company directly for more information.
CLICK HERE TO SUBSCRIBE TO THE CASE
WHO CAN BE A PRINCIPAL APPLICANT?
A principal plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is usually the investor or small group of investors who have the most significant financial interest and who are also suitable and typical for the proposed investor category. The lead plaintiff chooses a lawyer to represent the lead plaintiff and the class and these lawyers, if approved by the court, are the lead or class advocates. Your ability to participate in any recovery is not affected by the decision whether or not to serve as the principal applicant.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts nationwide and around the world. The company has developed a worldwide reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is guided by a common goal: to protect investors, consumers, employees and others from fraud, abuse, fault and neglect on the part of businesses and trustees. In the end, we were successful if the bad guys pay and you get your holdings back. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 route du Roi de Prussia
Radnor, Pennsylvania 19087
(844) 887-9500 (toll free)
View original content to download multimedia: https://www.prnewswire.com/news-releases/kessler-topaz-meltzer–checker-llp–final-deadline-reminder-for-camber-energy-inc-investors – -cei-301442089.html
SOURCE Kessler Topaz Meltzer & Check, LLP