Camber Energy, Inc. Investors: Company Investigated by the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Oct. 06, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Camber Energy, Inc. ("Camber" or the "Company") (NYSE: CEI) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether Camber issued misleading and/or false statements and/or failed to disclose information pertinent to investors. Camber is the subject of a research report which was published by Kerrisdale Capital on October 5, 2021. It is alleged in the report, titled: “Camber Energy, Inc. (CEI): What If They Made a Whole Company Out of Red Flags?” that the Company “has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted next month, and just fired its accounting firm in September.” Additionally, according to this report, Camber’s only actual asset, a 73% stake in OTC-traded Viking Energy Group, Inc., is in deep trouble, subject to a going-concern warning. The report also makes multiple other allegations about Camber, which include that its “‘ESG Clean Energy’ technology license is a joke,” that “the most fascinating part of the CEI boondoggle actually has to do with something far more basic: how many shares are there, and why has dilution been spiraling out of control?” and that the “market is badly mistaken about Camber’s share count and ignorant of [Camber’s] terrifying capital structure.” It is also estimated in the report that the “fully diluted share count is roughly triple the widely reported number.” Shares of Camber fell by more than 24% in intraday trading, based on this news..
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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