CODI expands non-reliance on financials to 2022 and 2023 amid Lugano investigation

Compass Group Diversified Holdings LLC

Audit Committee concluded June 18 that FY2022 and FY2023 financials should no longer be relied upon.
Investigation into subsidiary Lugano for irregularities in financing, sales, inventory, and accounts receivable.
Company expects one or more material weaknesses in internal controls; cannot yet estimate financial impact.
Irregularities preliminarily identified existed in FY2022 and FY2023 as well as FY2024.
CEO says other eight subsidiaries operating normally with strong balance sheets and ample liquidity.

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