Cardinal Infrastructure Group’s August 2026 Form 10-Q reported ineffective controls over construction contract estimates. One quarter later, project-cost revisions contributed to an approximately $11 million net loss.

NEW YORK, Nov. 13, 2026 /PRNewswire/ — Cardinal Infrastructure Group Inc. (Nasdaq: CDNL) shares plummeted roughly 60% after the Company reported an approximately $11 million third-quarter 2026 net loss and a 5.4% gross margin. Management indicated the “decline primarily reflected project estimate revisions” alongside pricing pressure and lower bid margins. If you bought CDNL and are now holding losses, you may have legal rights. Investors who suffered losses are encouraged to submit their CDNL loss information now . You may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com  or by telephone at (212) 363-7500.

The August 12, 2026 Form 10-Q identified material weaknesses related to “information technology general controls, segregation of duties and ineffective controls over the review of estimates to complete for construction contracts.” The same filing reported an allowance for loss contracts of $11,488 as of June 30, 2026. As of December 31, 2025, that allowance was $135,647, which means it fell by approximately 92%.

In its third-quarter results, Cardinal attributed the margin decline to project-cost revisions and lower initial bid margins, among other factors. Management stated that the Company needed to strengthen its estimating, project management, and operational controls. Levi & Korsinsky is investigating potential securities law violations on behalf of CDNL investors who lost money.

If you lost money on Cardinal Infrastructure Group, request a review of your CDNL losses today  or call (212) 363-7500.

WHY LEVI & KORSINSKY  — Ranked in ISS Securities Class Action Services’ Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered billions of dollars for investors.

Frequently Asked Questions About the CDNL Investigation

Q: Who is eligible to participate in the CDNL investigation?  A: Investors who purchased CDNL stock or securities and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: Which statements are being investigated as potentially misleading?  A: The investigation concerns whether Cardinal Infrastructure Group Inc. (CDNL) may not have adequately disclosed matters related to its controls over construction contract estimates and project-cost accounting. The stock price declined after the Company disclosed project-cost revisions and an approximately $11 million third-quarter 2026 net loss.

Q: What do CDNL investors need to do right now?  A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery . No immediate action is required to remain eligible to participate in the investigation.

Q: What documents do I need to participate?  A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any later sale dates and prices.

Q: What if I already sold my CDNL shares — can I still recover losses?  A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought CDNL and sold at a loss may still participate in the investigation.

Q: Do I need to go to court or give testimony?  A: No. Participating in the investigation does not require court appearances or depositions. If legal action is later pursued, the overwhelming majority of affected investors never appear in court either.

Q: What does it cost me to participate?  A: There is no upfront cost to submit your information and find out whether you may be eligible to recover. If you choose to participate in any resulting action, these matters are generally handled on a contingency basis, and any attorneys’ fees and expenses are subject to court approval.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com 
Tel: (212) 363-7500
Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP