LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its 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.
If you are a shareholder who suffered a loss, click here to participate.
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 was 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 $0.96, or over 38%, over two consecutive trading sessions to close at $1.56 per share on March 18, 2020, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
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 info@frankcruzlaw.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.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
