Compass Diversified hits record low as subsidiary probe sparks financial restatement
Shares of business portfolio investor Compass Diversified CODI.N fall 63% to record low of $6.35
Stock set for its worst day on record, if losses hold
Co late on Wednesday said it is investigating its subsidiary, Lugano Holding, due to concerns about financing and accounting practices
CODI says its 2024 financial statements should no longer be relied upon and will be restated
Moti Ferder, founder and CEO of Lugano, has resigned and will not receive severance pay - CODI
CODI said it will delay filing of its Q1 2025 financial results while investigation continues
Brokerage Roth Capital Partners has placed CODI's rating "under review" due to probe, citing "wide range of potential outcomes"
CODI owns about 60% of Lugano Holding
Including session move, stock down 71% YTD
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