NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of Commercial Vehicle Group, Inc. (NASDAQ: CVGI) resulting from allegations that Commercial Vehicle may have issued materially misleading business information to the investing public.
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, Commercial Vehicle’s share price fell $0.96 per share, or over 38%, over the next two trading days to close at $1.56 per share on March 18, 2020, injuring investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Commercial Vehicle investors. If you purchased shares of Commercial Vehicle please visit the firm’s website at http://www.rosenlegal.com/cases-register-1818.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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