Compass Diversified Holdings Announces Restated Financial Results for 2024 Following Discovery of Irregularities

Reuters

06-05

<a href="https://laohu8.com/S/CODI">Compass Diversified Holdings</a> Announces Restated Financial Results for 2024 Following Discovery of Irregularities

Compass Diversified Holdings has recently announced that their 2024 financial statements should no longer be relied upon due to identified irregularities in the financial practices of its subsidiary, Lugano. The company is currently undergoing an investigation into these issues, which include unrecorded financing arrangements and discrepancies in sales, cost of sales, inventory, and accounts receivable. As a result, Compass has decided to delay the release of its Q1 2025 Form 10-Q and is in the process of restating its financial results. The announcement followed the resignation of Lugano's founder and CEO, Mordechai Ferder, who will not receive any severance compensation. Following this disclosure, Compass's stock price experienced a significant drop. Investors are being encouraged to contact Lieff Cabraser Heimann & Bernstein, LLP regarding securities class actions against Compass, with a lead plaintiff motion deadline set for July 8, 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Compass Diversified Holdings published the original content used to generate this news brief via ACCESS Newswire (Ref. ID: 1035813) on June 05, 2025, and is solely responsible for the information contained therein.

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ID: 1035813) on June 05, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250605:nNDL38K9yf:1","article_id":"2541733260","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2541733260","pubTimestamp":1749128523,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Compass Diversified Holdings has recently announced that their 2024 financial statements should no longer be relied upon due to identified irregularities in the financial practices of its subsidiary, Lugano. 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The company is currently undergoing an investigation into these issues, which include unrecorded financing arrangements and discrepancies in sales, cost of sales, inventory, and accounts receivable. As a result, Compass has decided to delay the release of its Q1 2025 Form 10-Q and is in the process of restating its financial results. The announcement followed the resignation of Lugano's founder and CEO, Mordechai Ferder, who will not receive any severance compensation. Following this disclosure, Compass's stock price experienced a significant drop. Investors are being encouraged to contact Lieff Cabraser Heimann & Bernstein, LLP regarding securities class actions against Compass, with a lead plaintiff motion deadline set for July 8, 2025.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. 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