Important Deadline Reminder for Camber Energy, Inc. Investors in Securities Fraud Class Action

RADNOR, PA / ACCESSWIRE / November 26, 2021 / The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that a securities class action lawsuit has been filed against Camber Energy, Inc. (“Camber”) (NYSE: CIS). 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 misleading claims, investors suffered significant losses.

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CLICK HERE TO SUBMIT YOUR CAMBER LOSS

MAIN COMPLAINANT DEADLINE: December 28, 2021

COURSE PERIOD: from February 18, 2021 to October 4, 2021

CONTACT A LAWYER TO DISCUSS YOUR RIGHTS: James Maro, Esq. (484) 270-1453 or toll free (844) 887-9500 or by email at [email protected]

ALLEGED CAMBER FAULT

Camber is an independent oil and gas company that acquires, develops and sells primarily crude oil, natural gas and natural gas liquids. 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 achieve the full combination of the two entities (the “Merger”) ). On 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 on May 21, 2021, the New York Stock Exchange informed Camber that it was not in compliance with its continuous listing standards because Camber had not filed his form. 10-K for the 9-month period ended December 31, 2020. Among other reasons, Camber blamed its lack of compliance on “issues that arose in finalizing the determination of the fair value of assets and passive. associated to [Camber]the acquisition of a majority stake in Viking. Following this news, Camber’s stock price fell $ 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 releasing a report stating that “Camber is a former oil producer who has not filed financial statements with the SEC since September 2020, may see his stock. written off next time. months and just laid off his accounting firm in September. “Kerrisdale Capital also revealed that” Camber’s only real asset is a 73% stake in [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?

Camber investors can, no later than December 28, 2021, seek to be appointed as the principal representative of the applicants of the group through Kessler Topaz Meltzer & Check, LLPor another lawyer, or may choose to do nothing and remain an absent member of the group. 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 across the country 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 companies 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.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 route du Roi de Prussia
Radnor, Pennsylvania 19087
(844) 887-9500 (free call)
[email protected]

THE SOURCE: Kessler Topaz Meltzer & Check, LLP

See the source version on accesswire.com:
https://www.accesswire.com/674635/Kessler-Topaz-Meltzer-Check-LLP-Important-Deadline-Reminder-for-Camber-Energy-Inc-Investors-in-Securities-Fraud-Class-Action-Lawsuit

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