Latest news with #CODI
Associated Press
2 days ago
- Business
- Associated Press
ONGOING DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Compass Diversified
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Compass To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Compass stock or options between May 1, 2024 and May 7, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] New York, New York--(Newsfile Corp. - June 1, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Compass Diversified ('Compass' or the 'Company') (NYSE: CODI) and reminds investors of the July 8, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. [ This image cannot be displayed. Please visit the source: ] Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company's subsidiary, Lugano Holdings, Inc., maintained unrecorded financing arrangements and irregularities in its sales, cost of sales, inventory, and accounts receivable; (2) 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; (3) the Company failed to maintain adequate internal controls related to its financial statements; and (4) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. On May 7, 2025, after the market closed, the Company disclosed that its financial statements for fiscal year 2024 should no longer be relied upon in response to an ongoing internal investigation into the Company's subsidiary, Lugano Holding, Inc. The Company revealed that the investigation 'has preliminarily identified irregularities in Lugano's non-CODI financing, accounting, and inventory practices' 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.' On this news, Compass Diversified stock price fell 8% during after-hours trading on May 7, 2025, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Compass' conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Compass Diversified investigation, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. To view the source version of this press release, please visit
Yahoo
5 days ago
- Business
- Yahoo
Compass Diversified Takes Decisive Steps Amid Lugano Probe, Stock Dips
Compass Diversified CODI is taking decisive steps to improve liquidity and minimize costs following the discovery of irregularities in the financing, accounting and inventory practices at its subsidiary, Lugano Holding Inc. ('Lugano'). Following the news announcement, CODI shares fell 10.2% after trading hours. To strengthen financial flexibility and sharpen focus on its core portfolio, CODI entered a forbearance agreement with its lender group to maintain liquidity and support uninterrupted operations. The company reduced management fees, demonstrating a commitment to cost discipline and operational efficiency. It also temporarily suspended the quarterly cash distribution to common shareholders, preserving cash to protect long-term shareholder value. CODI has restricted further investment in Lugano and is concentrating on its eight other subsidiaries, which it believes are well-positioned for growth. Compass Diversified also addressed the status of its regulatory filings. As expected, following the delayed filing of its first-quarter 2025 Form 10-Q, CODI received a notice from the New York Stock Exchange ('NYSE') on May 20, 2025. Under NYSE rules, CODI has six months from May 19, 2025, to file Form 10-Q with the SEC and regain compliance. An extension of up to six additional months may be granted at the NYSE's discretion, though the NYSE retains the right to initiate delisting proceedings at any point during this period. CODI is continuing its efforts to finalize the internal review at Lugano, complete restatements for 2024 if needed, and submit Form 10-Q as soon as attainable. CODI's management remains confident in effectively addressing the Lugano situation while maintaining the performance of other businesses. These measures are part of a broader strategy to reduce leverage and ensure compliance with debt covenants. Elias Sabo, chief executive of Compass Diversified, informed, 'We are taking decisive action to enhance liquidity, reduce costs, and preserve value for all stakeholders.' 'We are encouraged by the support of our lenders as we take the necessary steps to reduce leverage and restore compliance with our debt covenants,' he added. Mr. Sabo further stated, 'Our structure and diversified business model give us the flexibility to help isolate and ring fence the challenges at Lugano while continuing to support the growth and execution of our healthy businesses. CODI's other eight subsidiaries continue to execute and we believe they are well positioned to grow in their respective markets. As our subsidiaries generate cash, we are focused on quickly deleveraging and ultimately maximizing value for all shareholders.' In the past six months, Compass Diversified's shares have plunged 67.4% compared with the industry's fall of 2.8%. Image Source: Zacks Investment Research Currently, the company carries a Zacks Rank #3 (Hold). Some better-ranked finance stocks are Chicago Mercantile Exchange CME and Cboe Global Markets, Inc. CBOE, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. CME earnings estimates for 2025 have been revised upward to $11.15 per share in the past 30 days. Its shares have gained 23.6% over the past six months. CBOE's 2025 earnings estimates have been revised upward to $9.50 per share in the past 30 days. Its shares have gained 7.5% over the past six months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CME Group Inc. (CME) : Free Stock Analysis Report Cboe Global Markets, Inc. (CBOE) : Free Stock Analysis Report Compass Diversified Holdings (CODI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- General
- Yahoo
Seven killed in crashes over Memorial Day weekend across Virginia, state police say
VIRGINIA () — Virginia State Police (VSP) said seven people were killed in seven collisions over Memorial Day weekend throughout the state. VSP noted the number is a significant drop from 2024, when 13 people died in crashes over the holiday weekend. 'Our goal remains to see a holiday weekend where there are no fatal crashes,' said Colonel Matthew D. Hanley, Superintendent of VSP. 'With graduations and summer travel continuing beyond this past weekend, we are continuing to ask drivers to buckle up, slow down, drive sober, and avoid distractions.' The crashes happened in Bedford, Buckingham, Caroline, Fauquier and Spotsylvania counties — as well as in the cities of Chesapeake and Virginia Beach. VSP issues CODI alert for 15-year-old girl in Frederick County last seen Memorial Day In Spotsylvania County, a motorcycle was involved in the collision on Interstate 95, officials noted. As part of a nationwide, state-sponsored operation, troopers cited over 3,300 drivers for speeding and over 1,500 people for reckless driving. Over 70 people were arrested for Driving Under the Influence and 405 were cited for violating the 'hands-free' phone law, VSP said. VSP noted that more than 500 citations were given for seatbelt violations, and 122 child restraint citations were issued. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Associated Press
24-05-2025
- Business
- Associated Press
ROSEN, SKILLED INVESTOR COUNSEL, Encourages Compass Diversified Holdings Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm
New York, New York--(Newsfile Corp. - May 23, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Compass Diversified Holdings (NYSE: CODI) between May 1, 2024, and May 7, 2025, both dates inclusive (the 'Class Period'), of the important July 8, 2025 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased Compass securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Compass class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Compass's subsidiary, Lugano Holdings, Inc., maintained unrecorded financing arrangements and irregularities in its sales, cost of sales, inventory, and accounts receivable; (2) the irregularities and undisclosed details in Lugano Holdings, Inc.'s financial statements rendered the financial statements of Compass as a whole unreliable, and would require restatement; (3) Compass failed to maintain adequate internal controls related to its financial statements; and (4) as a result, defendants' public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Compass class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] To view the source version of this press release, please visit
Malaysian Reserve
24-05-2025
- Business
- Malaysian Reserve
COMPASS DIVERSIFIED SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsui
NEW YORK and NEW ORLEANS, May 23, 2025 /PRNewswire/ — Kahn Swick & Foti, LLC ('KSF') and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 8, 2025 to file lead plaintiff applications in a securities class action lawsuit against Compass Diversified Holdings (NYSE: CODI), if they purchased the Company's securities between May 1, 2024 and May 7, 2025, inclusive (the 'Class Period'). This action is pending in the United States District Court for the Central District of California. 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 ( or visit to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 8, 2025. About the Lawsuit 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. 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. TOP 10 Plaintiff Law Firms – According to ISS Securities Class Action Services To learn more about KSF, you may visit Contact:Kahn Swick & Foti, LLCLewis Kahn, Managing Poydras St., Suite 960New Orleans, LA 70163https://
