Compass Diversified Says 3 Years of Results Can’t Be Relied Upon

Compass Group Diversified said its financial statements for 2022 through 2024 should no longer be relied upon due to irregularities at subsidiary Lugano Holding, expanding the scope of an ongoing internal investigation.

• Audit Committee now says 2022 and 2023 financials also unreliable
• Previously only 2024 statements had been withdrawn
• No indication other business segments are affected
• NOTE: Compass Plunges on Lugano Unit Probe; B Riley Downgrades Shares

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