The Law Offices of Frank R. Cruz Announces Investigation on Behalf of Commercial Vehicle Group Inc. Investors (CVGI)
March 17, 2020 at 19:00 PM EDT
The Law Offices of Frank R. Cruz announces an investigation on behalf of Commercial Vehicle Group Inc. ("Commercial Vehicle Group” or "the Company") (NASDAQ: CVGI) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On March 16, 2020, after the market closed, Commercial Vehicle Group issued a press release announcing its fourth quarter and full year 2019 financial results. Therein, the Company disclosed that certain financial statements for fiscal 2018 and 2019 periods should no longer be relied upon due to misstatements. Its Audit Committee had determined, among other things, that for the nine months ended September 30, 2019, cost of revenues were understated by $4.6 million, net income was overstated by $3.5 million, and diluted earnings per share was overstated by $0.11.
On this news, the Company’s share price fell as much as $0.33 per share, or over 13%, during intraday trading on March 17, 2020, thereby injuring investors.
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If you purchased Commercial Vehicle Group securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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