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Investigation announced for NASDAQ: CVGI investors over potential Securities Laws Violations by Commercial Vehicle Group, Inc.

03-26-2020 03:16 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Commercial Vehicle Group, Inc. (NASDAQ: CVGI) shares over potential securities laws violations.

An investigation for investors in Commercial Vehicle Group, Inc. (NASDAQ: CVGI) shares over potential securities laws violations.

Commercial Vehicle Group, Inc is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Commercial Vehicle Group, Inc. (NASDAQ: CVGI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Commercial Vehicle Group, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New Albany, OH based Commercial Vehicle Group, Inc., together with its subsidiaries, designs, engineers, produces, and sells a range of cab related products and systems in North America, Europe, and the Asia-Pacific regions. Commercial Vehicle Group, Inc. reported that its annual Total Revenue rose from $897.73 million in 2018 to $901.23 million in 2019, and that its Net Income decreased from $44.51 million in 2018 to $15.77 million in 2019.

On March 16, 2020, Commercial Vehicle Group, Inc announced its fourth quarter and full year 2019 financial results. Therein, Commercial Vehicle Group, Inc 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.

Shares of Commercial Vehicle Group, Inc. (NASDAQ: CVGI) declined from $9.47 per share in April 2019 to as low as $1.38 per share on March 24, 2020.

Those who purchased shares of Commercial Vehicle Group, Inc. (NASDAQ: CVGI) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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