NEW YORK, July 03, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Compass Diversified Holdings (“CODI” or the “Company”) (NYSE: CODI). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether CODI and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until July 8, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired CODI securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On May 7, 2025, CODI issued a press release “disclos[ing] non-reliance on its financial statements for fiscal 2024 amid an ongoing internal investigation into its subsidiary, Lugano Holding, Inc.” and “announc[ing] that it intends to delay the filing of its first quarter 2025 Form 10-Q.” The press release 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.” Accordingly, “[a]fter discussing with senior leadership and investigators, 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.”
On this news, CODI’s stock price fell $10.70 per share, or 62.03%, to close at $6.55 per share on May 8, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
