COMPASS DIVERSIFIED 96 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuits Against Compass Diversified Holdings
What You May Do
If you purchased securities of Compass and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-codi/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by July 8, 2025.
About the Lawsuits
Compass and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 7, 2025, the Company issued a press release entitled "Compass Diversified Discloses Non-Reliance on Financial Statements for Fiscal 2024 Amid an Ongoing Internal Investigation into its Subsidiary, Lugano Holding, Inc.," disclosing that 'the Audit Committee of CODI's Board has concluded that the previously issued financial statements for 2024 require restatement and should no longer be relied upon' and that '[e]ffective May 7, 2025, Lugano's founder and CEO, Moti Ferder, resigned from all of his positions at Lugano and will not receive any severance compensation.' The Company further disclosed that '[t]he Audit Committee of CODI's Board of Directors promptly launched an investigation after CODI's senior leadership was made aware of concerns about how Lugano was potentially financing inventory' and that '[t]he investigation . . . is ongoing but has preliminarily identified irregularities in Lugano's non-CODI financing, accounting, and inventory practices.'
On this news, the price of Compass' shares plummeted approximately 62%, from $17.25 per share on May 7, 2025, to $6.55 per share on May 8, 2025.
The case is Matthews v. Compass Group Diversified Holdings, Inc., et al., No. 25-cv-981. A subsequent case, Tan v. Compass Group Diversified Holdings, Inc., et al., No. 25-cv-5777, extended the class period.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg.
To learn more about KSF, you may visit www.ksfcounsel.com.
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