BOSTON,, June 08, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, reminds investors that it is investigating Commercial Vehicle Group, Inc. (“CVGI”) (NASDAQ: CVGI) and certain of its officers for securities fraud. Investors who purchased CVGI shares should contact Block & Leviton for a free case evaluation.
CVGI, through its subsidiaries, is a supplier of electrical wire harnesses, seating systems, and a full range of other cab related products for global commercial vehicle markets. On March 16, 2020, after the market closed, CVGI issued a press release announcing its fourth quarter and full year 2017 financial results. The Company disclosed that certain financial statements for fiscal 2018 and 2019 periods should no longer be relied upon due to misstatements. CVGI’s Audit Committee had determined that, among other things, 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, CVGI’s share price fell over 38% over the next two trading days, to close at just $1.56 per share on March 18, 2020.
If you purchased or acquired shares of CVGI common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, or via email at email@example.com, or at https://shareholder.law/cvgi.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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SOURCE: Block & Leviton LLP