CODI FRAUD ALERT: Compass Diversified Investors are Reminded of Ongoing Securities Fraud Class Action — Contact BFA Law by July 8 Legal Deadline (NYSE:CODI)
If you invested in Compass you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/compass-diversified-holdings.
Investors have until July 8, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Compass securities. The case is pending in the U.S. District Court for the Central District of California and is captioned Matthews v. Compass Group Diversified Holdings, Inc., et al. , No. 25-cv-981.
Why was Compass Sued for Securities Fraud?
Compass is a statutory trust that acquires and manages a group of small and middle-market businesses. This includes Lugano Holdings, Inc., a designer, manufacturer, and marketer of high-end jewelry. The complaint alleges that the Company's fiscal 2024 financial statements contained material misstatements relating to unrecorded financing arrangements and irregularities identified in sales, cost of sales, inventory, and accounts receivable recorded by Lugano.
The Stock Declines as the Truth is Revealed
On May 7, 2025, after the market closed, Compass announced that investors should not rely on its fiscal 2024 financial statements amid an ongoing internal investigation, led by outside counsel and a forensic accounting firm, into Lugano. The Company stated that it has 'preliminarily identified irregularities in Lugano's non-CODI financing, accounting, and inventory practices.' The Company also announced that it intended to delay the filing of its Q1 2025 financial results, and that Lugano's founder and CEO, Moti Ferder, resigned from his positions at Lugano and will not receive any severance compensation. On this news, the price of Compass stock declined roughly 62%, from $17.25 per share on May 7, 2025, to $6.55 per share on May 8, 2025.
Click here if you suffered losses: https://www.bfalaw.com/cases-investigations/compass-diversified-holdings
What Can You Do?
If you invested in Compass you may have legal options and are encouraged to submit your information to the firm.
All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://www.bfalaw.com/cases-investigations/compass-diversified-holdings
Or contact:Ross Shikowitz
[email protected]
212-789-3619
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