Kehoe Law Firm, P.C. is investigating claims on behalf of investors of Commercial Vehicle Group, Inc. (“Commercial Vehicle” or the “Company”) (NASDAQ: CVGI) to determine whether Commercial Vehicle engaged in securities fraud or other unlawful business practices.
Investors who purchased, or otherwise acquired, Commercial Vehicle securities and suffered losses are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], [email protected], to discuss the investigation or potential legal claims.
Post-market, on March 16, 2020, the Company issued a press release which, among other things, stated that on March 12, 2020, the Audit Committee of the Company’s Board of Directors “. . . concluded that [the Company’s] audited consolidated financial statements as of and for the year ended December 31, 2018 . . . and [the Company’s] unaudited consolidated financial statements as of and for the quarterly periods ended March 31, 2019 and 2018, June 30, 2019 and 2018, and September 30, 2019 and 2018 . . . should no longer be relied upon due to misstatements and that [the Company] will restate such financial statements to make the necessary accounting corrections.”
On this news, Commercial Vehicle’s share price fell $0.96 per share, or more than 38%, over the next two trading days, closing at $1.56 per share on March 18, 2020.