Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Camber Energy Inc. (“Camber” or the “Company”) (NYSE: CEI) on behalf of Camber stockholders. Our investigation concerns whether Camber has violated the federal securities laws and/or engaged in other unlawful business practices.
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Camber is an independent oil and natural gas company that engages in the acquisition, development, and sale of crude oil, natural gas, and natural gas liquids in the Cline shale and upper Wolfberry shale in Glasscock County, Texas.
On October 5, 2021, Kerrisdale Capital issued a report which stated that “Camber is a defunct oil producer that 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. Its only real asset is a 73% stake in Viking Energy, an OTC-traded company with negative book value and a going-concern warning that recently violated the maximum-leverage covenant on one of its loans. (For a time, it also had a fake CFO - long story.)”
Following this news, Camber’s stock price fell $1.56, or over 50%, to close at $1.53 per share on October 5, 2021.
If you purchased or otherwise acquired Camber shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at firstname.lastname@example.org, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.