CAMBER DEADLINE ALERT: Bragar Eagel & Squire, PC Reminds Investors That Class Action … | Your money
NEW YORK, Dec. 24, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized law firm, reminds investors that a class action lawsuit has been filed against Camber Energy, Inc. (“ Camber ”or the“ Company ”(NYSE: CEI) in the United States District Court for the Southern District of Texas on behalf of all persons and entities who purchased or otherwise acquired securities of Camber between February 18 2021 and October 4, 2021, both dates inclusive (the “Recourse Period”). Investors have until December 28, 2021 to ask the court to be named lead plaintiffs in the lawsuit.
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Throughout 2021, Camber failed to timely file the required financial statements with the SEC. As a result, financial reporting services such as Yahoo! Finance and Bloomberg were forced to rely on infrequent and outdated updates to SEC filings to estimate the company’s issued and outstanding common shares. For example, prior to a recent update by the Company on October 6, 2021, the widely publicized estimate of the Company’s issued and outstanding common shares was 104.2 million, itself based on a filing by the Company to the SEC on July 12, 2021. When the company provided an update on October 6, 2021, it reported 249.6 million shares issued and outstanding, a significantly higher number.
Throughout the Class Period, the Defendants have made materially false and misleading representations regarding the Company’s business, operations and compliance policies. Specifically, the Defendants have made false and / or misleading statements and / or failed to disclose that: (i) Camber overstated the financial and business prospects of Viking as well as the Combined Company after the Merger; (ii) Camber has failed to inform investors and / or downplay that its acquisition of a controlling interest in Viking would exacerbate the Company’s overdue financial statements and its NYSE listing requirements; (iii) an institutional investor was diluting Camber’s shares at a significant rate following the Company’s update of July 12, 2021 regarding the number of its issued and outstanding ordinary shares; and (iv) accordingly, the Company’s public statements were materially false and misleading at all material times.
If you have purchased or acquired shares of Camber and suffered a loss, are a long-term shareholder, have information, want to know more about these claims, or have questions regarding this announcement or your rights or interests in it of these questions, please contact Brandon Walker or Alexandra Raymond by email at [email protected], by phone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York City, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.
Bragar Eagel & Squire, PC Brandon Walker, Esq. Alexandra B. Raymond, Esq. (212) 355-4648 [email protected]
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