Compass Group Diversified Holdings LLC: auditor change — 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.

item 4.02 item 7.01 item 9.01

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

Compass Group Diversified Holdings LLC reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Grant Thornton LLP

Exact text from the filing

on June 18, 2025 the Audit Committee, after consultation with the Company’s management, the Advisors, and Grant Thornton, concluded that, in addition to the previously issued financial statements for fiscal year 2024 contained in the Company’s Annual Report for December 31, 2024, the previously issued financial statements and other interim and full-year financial information for the fiscal years ended December 31, 2022 and December 31, 2023 should also no longer be relied upon

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Source: SEC EDGAR

accession 0001345126-25-000038

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