| COMPANY |
Camber Energy, Inc. |
| COURT |
United States District Court for the Southern District of Texas |
| CASE NUMBER |
21-cv-03574 |
| JUDGE |
The Hon. Charles R. Eskridge III |
| CLASS PERIOD |
February 18, 2021 - October 4, 2021 |
| SECURITY TYPE |
All Securities |
Case Background:
This is a federal securities class action brought on behalf of investors who purchased Camber Energy, Inc. (“Camber”) securities between July 13, 2021, and October 4, 2021 (the “Class Period”).
The complaint alleges that throughout the Class Period, the 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, Camber’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On September 22, 2023, the Court granted Defendants’ Motion to Dismiss the complaint, providing Lead Plaintiffs with an opportunity to seek leave to amend the complaint. A Joint Stipulation of Dismissal was signed and entered on October 25, 2023. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; 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.