Camber Energy (CEI) Breaks The Laws: Stock Follows The Bearish Move

Kessler Topaz, a law firm, has filed a securities class action lawsuit against Camber Energy, Incorporated. Investors who purchased or otherwise acquired shares of CEI should contact the firm immediately. CEI stock drops by 9.8% to cost $1.10 in the pre-market today. The lawsuit charges Camber with various violations of federal securities laws. These violations allegedly occurred due to the company’s false and misleading statements. In December 2020, Camber Energy acquired a controlling interest in a Minnesota-based energy company known as Viking. And on February 18, 2021, Camber published the news that the company had acquired Viking and merged with it after concluding an agreement
Camber’s stock price decline began on May 24, 2021, after it was revealed that the New York Stock Exchange had informed the company that it failed to file its annual report on time. The company also cited various issues related to its acquisition of Viking. In October 2021, Kerrisdale Capital revealed that Camber Energy, a failed oil producer, is in danger of getting its stock delisted due to its failure to file its financial statements. The firm also stated that its only real asset is a 73% ownership in Viking.

Anthony Gonzales

Biotech, Tech, and Crypto reporterAnthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.