Kehoe Law Firm, P.C. is investigating whether Camber Energy, Inc. (“Camber” or the “Company”) (NYSE American: CEI) violated federal securities laws.
Camber investors should be aware that on October 5, 2021, Kerrisdale Capital issued a report which stated, among other things, 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.)”
On this news, shares of Camber dropped almost 51% to close at $1.53 per share. Post-market on October 5, 2021, Camber’s share price dropped another 17.65% to $1.26 per share, thereby further injuring Camber investors.