LOS ANGELES, CA / ACCESSWIRE / March 27, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Commercial Vehicle Group, Inc. ("Commercial Vehicle Group" or "the Company") (NASDAQ:CVGI) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Commercial Vehicle Group released its fourth quarter and full year 2019 financial results on March 16, 2020. According to the Company, financial statements for fiscal 2018 and periods of fiscal 2019 were made unreliable by misstatements. The Company's Audit Committee determined that for the nine months ending September 30, 2019, the 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. Based on this news, shares of Commercial Vehicle Group fell sharply on March 17, 2020.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm