---
schema_version: "secwatch.filing_event.v1"
accession: "0001345126-25-000038"
form_type: "8-K"
ticker: null
cik: "0001345122"
company_name: "Compass Group Diversified Holdings LLC"
filed_at: "2025-06-25T23:59:59+00:00"
generated_at: "2026-05-18T19:08:00.136761+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001345126-25-000038
- form_type: 8-K
- cik: 0001345122
- company_name: Compass Group Diversified Holdings LLC
- filed_at: 2025-06-25T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1345122/000134512625000038/0001345126-25-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1345122/000134512625000038/codi-20250618.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001345126-25-000038
- JSON: https://secwatch.observer/filing/0001345126-25-000038.json
- Plain text: https://secwatch.observer/filing/0001345126-25-000038.txt

## Key facts
- Auditor Changes
  Compass Group Diversified Holdings LLC reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: Grant Thornton LLP
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1345122/000134512625000038/0001345126-25-000038-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.