Press release
Lawsuit filed for Investors who lost money with shares of Compass Diversified (NYSE: CODI)
A lawsuit was filed on behalf of investors in Compass Diversified (NYSE: CODI) shares over alleged securities laws violations.
Investors who purchased shares of Compass Diversified (NYSE: CODI) have certain options and for certain investors are short and strict deadlines running. Deadline: July 8, 2025. NYSE: CODI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Westport, CT based Compass Diversified is a private equity firm specializing in add on acquisitions, buyouts, industry consolidation, recapitalization, late stage, and middle market investments. Compass Diversified reported that its annual Total Revenue rose from over $2.05 billion in 2023 to over $2.19 billion in 2024, and that its Net Income decreased from $246.28 million in 2023 to $12.8 million in 2024.
On May 7, 2025, after the market closed, Compass Diversified announced that its financial statements for fiscal 2024 could no longer be relied upon due to an ongoing internal investigation into its subsidiary, Lugano. Specifically, Compass Diversified reported that its Audit Committee launched an investigation over "concerns about how Lugano was potentially financing inventory." The Company also announced that it intends to delay the filing of its first quarter 2025 Form 10-Q. Further, effective May 7, 2025, Lugano's founder and CEO, Moti Ferder, resigned from Lugano and will not receive any severance compensation.
Shares of Compass Diversified (NYSE: CODI) declined from $24.59 per share on July 31, 2024 to $6.05 per share on May 08, 2025.
The plaintiff claims that between May 1, 2024, and May 7, 2025, the defendants made false and/or misleading statements and/or failed to disclose that the Company's subsidiary, Lugano Holdings, Inc., maintained unrecorded financing arrangements and irregularities in its sales, cost of sales, inventory, and accounts receivable, that the irregularities and undisclosed details in Lugano Holdings, Inc.'s financial statements rendered the financial statements of the Company as a whole unreliable, and would require restatement, that the Company failed to maintain adequate internal controls related to its financial statements, and thata result, defendants' public statements were materially false and/or misleading at all relevant times.
Those who purchased shares of Compass Diversified (NYSE: CODI) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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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