LEGALZOOM.COM, INC. (LZ): auditor change — LegalZoom restates Q1-Q3 2022 financials due to tax error; net loss adjustments up to $5.3M

LEGALZOOM.COM, INC.

Error in Section 162(m) executive comp deduction caused understated deferred tax assets and overstated income tax provision.
Q1 2022 net loss overstated by $4.9M; Q2 2022 six-month net loss overstated by $5.3M.
Q3 2022 three-month net loss understated by $1.8M; nine-month net loss overstated by $3.4M.
New material weakness identified in controls over income tax provision; aggregates with prior weaknesses.
Restatement does not affect full-year 2022 results; restated figures to be included in 2022 10-K.

item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

LEGALZOOM.COM, INC. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

Accordingly, the unaudited condensed consolidated financial statements included in the Q2 2022 Form 10-Q and the Q3 2022 Form 10-Q require restatement and should also no longer be relied upon.

View on SEC.gov

Browse all auditor changes →

LEGALZOOM.COM, INC. filing history →

Source: SEC EDGAR

accession 0001286139-23-000019

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.