Latest news with #CODI
Cision Canada
09-07-2025
- Business
- Cision Canada
Cobionix Secures US $3 Million in Strategic Funding Led by TitletownTech to Advance Autonomous Medical Robotics
Funding accelerates deployment of CODI ®, Cobionix's Clinical AI-powered robotic platform, across North American and UK healthcare systems. KITCHENER, ON, July 9, 2025 /CNW/ - Cobionix, a pioneer in autonomous medical robotics, has closed a US $3 million funding round led by TitletownTech, a venture capital firm backed by Microsoft and the Green Bay Packers. Lions Investment and Dr. Paul McBeth, a prominent medical robotics KOL, also participated among others. This funding will support the commercialization of CODI ®, Cobionix's multi-functional robotic platform designed to enhance healthcare delivery through advanced automation and AI. "This partnership with TitletownTech marks a significant milestone in our mission to revolutionize healthcare delivery and drive the advancement of human and machine at the patient's bedside," said Matthew Sefati, CEO of Cobionix. "Their support will enable us to expand the reach of CODI ®, bringing cutting-edge robotic solutions to healthcare providers and patients worldwide," said Nima Zamani, Co-Founder and CTO of Cobionix. CODI ® is a configurable, medical-collaborative robotics platform capable of performing a wide range of patient-facing tasks, including diagnostic ultrasound procedures. Unlike traditional robotic systems that require significant hardware modifications for different clinical applications, CODI's ® design allows for rapid adaptation to various clinical tasks through simple tool changes and over-the-air software updates. The investment will help scale ongoing pilot programs, which are currently in the research and clinical pilot phase, with projects underway in Canada, the U.S. and the U.K., including partnerships with the Saskatchewan Health Authority and the National Health Service. The new funding will help support those pilot projects and move CODI ® from bench to bedside, with a focus on launching in the U.S. market. "Medical robotics is at the intersection of several powerful technology trends, and Cobionix is harnessing that convergence in a way that has real potential to transform healthcare," said TitletownTech Managing Partner Jill Enos. "We're excited to support the team's vision as the company pushes the boundaries of what's possible in this space." "With an increasing need for highly skilled medical care in our country, especially in our rural communities, we need to leverage unique technological advances to stretch our highly skilled workforce," said Prevea Health President and CEO Dr. Ashok Rai. "CODI ® does just that, by allowing ultrasound technologists to perform ultrasounds remotely with the same level of expertise and hands-on care as if the patient was right in front of them. No longer will where you live be a limiting factor in the kind of medical care you receive thanks to the technology that CODI ® brings to the market." About Cobionix Cobionix is a Canadian-based robotics company dedicated to developing autonomous solutions for the healthcare industry. Its flagship product, CODI ®, is designed to perform a variety of medical procedures, decentralizing access to quality healthcare services for patients and enabling healthcare providers to do more with less. About TitletownTech TitletownTech is a venture capital firm and innovation hub formed out of a partnership between the Green Bay Packers and Microsoft. Designed to bring world-class innovation and expertise to both startups and corporate partners, TitletownTech focuses on funding and supporting high-growth, early-stage companies while enabling existing businesses to explore commercialization opportunities and transform operations through technology. With investments across manufacturing & construction; supply chain & logistics; agriculture, water, & energy; digital health; and sports, media & entertainment, TitletownTech invests in the US and Canada, with a focus on the Midwest. Its portfolio includes RAIC Labs, which leverages AI in defense and commercial sectors; Fork Farms, which fights food insecurity through hydroponic systems; GenLogs, which advances freight intelligence to combat fentanyl smuggling and human trafficking; Oculogica, which pioneers eye-tracking technology for brain health and impairment detection; and Realta Fusion, which is developing compact fusion technology for sustainable energy solutions. For more information, please visit
Business Wire
04-07-2025
- Business
- Business Wire
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
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)-- Kahn Swick & Foti, LLC ('KSF') and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until to file lead plaintiff applications in securities class action lawsuits against Compass Diversified Holdings (NYSE: CODI), if they purchased the Company's securities between March 1, 2023 and May 7, 2025, inclusive (the 'Class Period'). These actions are 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 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
Yahoo
04-07-2025
- Business
- Yahoo
Compass Diversified Declares Second Quarter 2025 Distributions on Series A, B and C Preferred Shares
WESTPORT, Conn., July 02, 2025 (GLOBE NEWSWIRE) -- Compass Diversified (NYSE: CODI) ('CODI' or the 'Company'), an owner of leading middle market businesses, announced today that its Board of Directors (the 'Board') has declared a quarterly cash distribution for each of its three preferred share series. This announcement underscores that in the wake of its ongoing investigation of Lugano, the Company's diversified business model supports its continued ability to generate strong cash flow. The Board declared a quarterly cash distribution of $0.453125 per share on the Company's 7.250% Series A Preferred Shares (the 'Series A Preferred Shares'). The distribution on the Series A Preferred Shares covers the period from, and including, April 30, 2025, up to, but excluding, July 30, 2025. The distribution for such period is payable on July 30, 2025, to all holders of record of Series A Preferred Shares as of July 15, 2025. The Board also declared a quarterly cash distribution of $0.4921875 per share on the Company's 7.875% Series B Preferred Shares (the 'Series B Preferred Shares'). The distribution on the Series B Preferred Shares covers the period from, and including, April 30, 2025, up to, but excluding, July 30, 2025. The distribution for such period is payable on July 30, 2025, to all holders of record of Series A Preferred Shares as of July 15, 2025. The Board also declared a quarterly cash distribution of $0.4921875 per share on the Company's 7.875% Series C Preferred Shares (the 'Series C Preferred Shares'). The distribution on the Series C Preferred Shares covers the period from, and including, April 30, 2025, up to, but excluding, July 30, 2025. The distribution for such period is payable on July 30, 2025, to all holders of record of Series A Preferred Shares as of July 15, 2025. CODI's preferred cash distributions should generally constitute 'qualified dividends' for U.S. federal income tax purposes to the extent they are paid from 'earnings and profits' (as determined under U.S. federal income tax principles), provided that the requisite holding period is met. To the extent that the amount of cash distributions exceeds earnings and profits, such distribution will first be treated as a non-taxable return of capital to the extent of the holder's adjusted tax basis in the shares and thereafter be treated as a capital gain from the sale or exchange of such shares. About Compass Diversified Since its IPO in 2006, CODI has consistently executed its strategy of owning and managing a diverse set of highly defensible, middle-market businesses across the branded consumer, industrial, healthcare, and critical outsourced services sectors. The Company leverages its permanent capital base, long-term disciplined approach, and actionable expertise to maintain controlling ownership interests in each of its subsidiaries, maximizing its ability to impact long-term cash flow generation and value creation. The Company provides both debt and equity capital for its subsidiaries, contributing to their financial and operating flexibility. CODI utilizes the cash flows generated by its subsidiaries to invest in the long-term growth of the Company and has consistently generated strong returns through its culture of transparency, alignment and accountability. For more information, please visit Forward Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation, CODI's expectations as to the timing and outcome of the Lugano investigation, CODI's credit availability and future liquidity, actions taken in response to the outcome of the investigation, the future performance of Lugano and CODI's other subsidiaries, the filing or delay of CODI's periodic reports, and the amount of any potential misstatements associated with Lugano and the impact any such misstatements may have on CODI's previously issued financial statements or results of operations. Such forward looking statements may be identified by, among other things, the use of forward-looking terminology such as 'believe,' 'expect,' 'may,' 'could,' 'would,' 'plan,' 'intend,' 'estimate,' 'predict,' 'potential,' 'continue,' 'should' or 'anticipate' or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. These statements are based on beliefs and assumptions by the Board of Directors and management, and on information currently available to CODI's Board of Directors and management. These statements involve risk and uncertainties that could cause CODI's actual results and outcomes to differ, perhaps materially, including but not limited to: the discovery of additional information relevant to the investigation; the conclusions (and timing of those conclusions) concerning matters relating to the investigation; the timing of the review by, and the conclusions of, Grant Thornton regarding the investigation and CODI's financial statements; a further material delay in CODI's financial reporting or ability to hold an annual meeting of stockholders; the impacts of restatement reviews; the likelihood that the control deficiencies identified or that may be identified in the future will result in material weaknesses in CODI's internal control over financial reporting; and commercial litigation relating to the investigation, including CODI's representations regarding its financial statements, and the possibility of future litigation or investigation relating to CODI's internal controls, restatement reviews, the investigation, or related matters. Please see CODI's Annual Report on Form 10-K for the year ended December 31, 2024 for other risk factors that you should consider in connection with such forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date such statements have been made. Except as required by law CODI does not undertake any public obligation to update any forward-looking statements to reflect events, circumstances, or new information after the date of this press release, or to reflect the occurrence of unanticipated events. Investor RelationsCompass Diversifiedirinquiry@ Source: Compass Diversified HoldingsError 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
04-07-2025
- Business
- Yahoo
Compass Diversified (CODI) Grapples with Financial Irregularities, Slashes Dividend Amid Investor Lawsuit
SAN FRANCISCO, CA / / June 17, 2025 / Compass Diversified (NYSE:CODI), a Connecticut-based private equity firm, is navigating a turbulent period marked by the recent resignation of a key director, a precipitous stock decline, and a burgeoning class-action lawsuit, all stemming from unearthed accounting irregularities at one of its portfolio companies. Hagens Berman is investigating the claims and urges investors who purchased Compass shares and suffered substantial losses to submit your losses now. Class Period: May 1, 2024 - May 7, 2025 Lead Plaintiff Deadline: July 8, 2025 Visit: Contact the Firm Now: CODI@ 844-916-0895 Board Departure Amidst Mounting Corporate Woes Gordon M. Burns stepped down from Compass Diversified's board on June 7, 2025, a decision foreshadowed by his earlier choice not to seek re-election, citing other commitments. This departure coincides with a particularly fraught time for the firm, as it confronts the fallout from "troubling accounting practices" at Lugano Holdings, a high-end jewelry subsidiary acquired in 2021 for an enterprise value of $256 million. In response to the escalating crisis, the firm has enacted a series of urgent, decisive measures aimed at shoring up its financial position. These include securing a forbearance agreement with its lenders, implementing a reduction in management fees, and, notably, suspending its quarterly cash distribution - a payout highly valued by its income-focused investor base. Furthermore, Compass Diversified has announced a strategic re-prioritization, vowing to curtail new investment in Lugano Holdings. This recalibration is designed to reallocate resources and focus attention on its other eight portfolio companies, ostensibly to mitigate further contagion from the Lugano controversy. Securities Fraud Suit The revelation of these irregularities has ignited a securities class action lawsuit, Augenbaum v. Compass Diversified Holdings, No. 25-cv-01003 (C.D. Cal.). The lawsuit seeks to represent purchasers or acquirers of Compass Diversified Holdings' publicly traded securities between May 1, 2024, and May 7, 2025. The plaintiffs contend that during this "Class Period," defendants disseminated "false and/or misleading statements" and failed to disclose critical information. Specifically, the lawsuit alleges that Lugano Holdings contravened "applicable accounting rules and acceptable industry practices" concerning its financing, accounting, and inventory procedures throughout Compass Diversified's fiscal year 2024. Consequently, the lawsuit claims, Lugano's 2024 financial results were "artificially distorted." The complaint further asserts that Compass Diversified neglected to implement "effective internal controls" over its financial reporting, leading to materially misstated 2024 financial results that did not accurately reflect the company's true financial standing. The catalyst for the current turmoil was Compass Diversified's May 7, 2025, press release, titled "Compass Diversified Discloses Non-Reliance on Financial Statements for Fiscal 2024 Amid an Ongoing Internal Investigation into its Subsidiary, Lugano Holding, Inc." In this disclosure, the firm revealed that it had "preliminarily identified irregularities in Lugano's non-CODI financing, accounting, and inventory practices." Following discussions with senior leadership and investigators, the Audit Committee of CODI's Board concluded that "previously issued financial statements for 2024 require restatement and and should no longer be relied upon." The company also announced its intention to delay the filing of its first-quarter 2025 Form 10-Q. The market's immediate response was severe, with the price of Compass Diversified's stock plummeting by more than 62% on the news. The class action lawsuit charges Compass Diversified Holdings, Compass Group Diversified Holdings LLC, Compass Group Management LLC, and certain current and former top executives with violations of the Securities Exchange Act of 1934. Hagens Berman's Investigation Hagens Berman, a national investor rights law firm, has announced it is conducting its own investigation into potential securities violations by Compass Diversified. "The cascade of events, from the restatement of financials to the drastic measures to conserve cash, suggests a deeply entrenched issue at Lugano that Compass Diversified seemingly failed to adequately oversee," said Reed Kathrein, the partner at Hagens Berman leading the firm's probe. If you invested in Compass Diversified and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now » If you'd like more information and answers to frequently asked questions about the Compass Diversified case and our investigation, read more » Whistleblowers: Persons with non-public information regarding Compass Diversified should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CODI@ # # # About Hagens BermanHagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at Follow the firm for updates and news at @ClassActionLaw. Contact:Reed Kathrein, 844-916-0895 SOURCE: Hagens Berman Sobol Shapiro LLP View the original press release on ACCESS Newswire 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
Associated Press
03-07-2025
- Business
- Associated Press
Deadline is July 8, 2025 to Lead in Securities Class Action Against Compass Diversified Holdings, Inc. (CODI)
NEW YORK, NY - July 3, 2025 ( NEWMEDIAWIRE ) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Compass Diversified Holdings ('Compass' or the 'Company') (NYSE: CODI) on behalf of investors that purchased or otherwise acquired Compass securities between March 1, 2023 and May 7, 2025 (the 'Class Period'). CLICK HERE TO RECEIVE MORE INFORMATION ABOUT THE CASE If you are a Compass investor and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003. DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than July 8, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery. On May 7, 2025, after the markets closed, Compass filed a Form 8-K, which disclosed that the Audit Committee of the Board of Directors 'commenced an internal investigation into the financing, accounting, and inventory practices of Lugano Holding, Inc. ('Lugano'), a subsidiary and operating segment of the Company, based on concerns reported to Company management as to these practices. Upon being notified of the concerns, Company management immediately informed the Audit Committee, and the Audit Committee promptly retained outside legal counsel to assist in conducting the investigation.' The Company further disclosed that '[t]he investigation, which remains ongoing, focuses on certain unrecorded financing arrangements and irregularities identified in sales, cost of sales, inventory, and accounts receivable recorded by Lugano.' The Company further revealed that Mordechai Haim Ferder, 'resigned from his position as Chief Executive Officer of Lugano, and from all offices and directorships previously held with Lugano and its subsidiaries and affiliates. Mr. Ferder's resignation constitutes a voluntary termination of his employment for which he will not receive any severance or additional compensation.' Compass also announced that it 'intends to delay the filing of its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 to provide for additional time to complete the investigation.' Lastly, the Company disclosed that '[a]ny previously issued or filed reports, press releases, earnings releases and investor presentations or other communications describing the Company's consolidated financial statements and other related financial information covering the fiscal year ended December 31, 2024 should also no longer be relied upon.' Following this news, the price of Compass stock fell $10.70 per share, or 62%, to close at $6.55 per share on May 8, 2025. WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this investigation, please contact: CONTACT: Pamela A. Mayer KAPLAN FOX & KILSHEIMER LLP 800 Third Avenue, 38th Floor New York, New York 10022 (646) 315-9003 [email protected] Laurence D. King KAPLAN FOX & KILSHEIMER LLP 1999 Harrison Street, Suite 1560 Oakland, California 94612 (415) 772-4704 [email protected] Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
