New York, New York – (Newsfile Corp. – October 9, 2021) – Pomerantz LLP is investigating claims on behalf of investors of Camber Energy, Inc. (“Camber” or the “Company”) (NYSE: CEI). These investors are invited to contact Robert S. Willoughby at [email protected] or at 888-476-6529, ext. 7980.
The purpose of the investigation is to determine whether Camber and any of its officers and / or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On October 5, 2021, Kerrisdale Capital released a report alleging that the company “has not filed financial statements with the SEC since September 2020, risks having its shares delisted next month and has just fired its accounting firm in September ”. The report further alleged that Camber had only one real asset, a 73% stake in an over-the-counter company with a negative book value. Kerrisdale Capital also alleges that “the market is seriously mistaken about the number of Camber shares and ignores [Camber’s] terrifying capital structure “, estimating that” the number of fully diluted shares of the company is about three times the widely reported number “.
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.
Pomerantz, with offices in New York, Chicago, Los Angeles and Paris, is recognized as one of the leading firms in the areas of corporate law, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the Dean of the Class Actions Bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 80 years later, Pomerantz continues the tradition it established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99189