Case Background:
This is a federal securities fraud class action lawsuit on those who purchased or otherwise acquired Camber Energy, Inc. (“Camber”) (NYSE: CEIN) securities between July 13, 2021 and October 4, 2021, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Camber overstated the financial and business prospects of Viking as well as the combined company post-Merger; (2) Camber failed to apprise investors of, and/or downplayed, the fact that its acquisition of a controlling interest in Viking would exacerbate Camber’s delinquent financial statements and listing obligations with the NYSE; (3) an institutional investor was diluting Camber’s shares at a significant rate following Camber’s July 12, 2021 update regarding the number of its shares of common stock issued and outstanding; and (5) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On September 22, 2023, the Court granted Defendants’ Motion to Dismiss the Complaint. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.