The shares of Camber Energy Inc. (CEI) slightly gained value in the pre market trading session. The change of $0.12 occurred which lead it to reach $1.23. This is a change of 10.82% from the previously closed value of the stock. In the last trading session the stock closed at $1.11. The average volume of shares traded in the market was approx. 200.49 million.

The class action lawsuit on behalf of the investors:

The law offices of Frank R. Cruz on 15 November, 2021 announced they are filing securities class action lawsuit on behalf of the investors of Camber Energy Inc. (CEI).

The complaint filed by the law firmalleges that during the specific time period, the company issued technically false and/or misleading statements and/or failed to disclose that:

• Camber overestimated the financial and operationforecasting of the Viking as well as the combined company post-merger.
• Camber went wrong to apprise investors of, and/or mislead, the fact that its acquisition of a controlling interest in Viking would worsen the Company’s lawless financial statements and listing obligations with the New York Stock Exchange.
• An institutional investor was messing with Camber’s stock at a significant rate following the Company’s July 12, 2021 update regarding the number of its shares of common stock issued and as well as outstanding
• So due to these reasons the Company’s public statements were technically false and misleading for the investors all this times.

For investors:

Investors can register themselves on the portal of the law firm, where they can track the direction and lifecycle of the case in the future. There is no cost or obligation for shareholders if they register themselves on the portal of The Law Offices of Frank R. Cruz. This is only for the shareholder or investors who purchased the shares of Camber Energy Inc. (CEI) in that specific time frame.

Conclusion:

The law firm is taking the company to the court with some serious allegations on behalf of the investors. The share price of the stock almost lost its value by half which cost the investors a hefty amount of money. If the Camber Energy Inc. (CEI) failed to produce some solid evidence then it would have some serious effect on the stock. The company is yet to release its result of third quarter.