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CCSI.US
id: 954

Consensus Cloud (CCSI) Accounting Errors Case

  • In February, Consensus Cloud disclosed a restatement of Q3 22 financial results due to accounting errors.
  • On it, $CCSI fell 21.1%, losing $240M+ of shareholder value.
  • Investors may have grounds to suspect Consensus Cloud of releasing misleading financial statements.
On February 22, 2023, Consensus Cloud disclosed a restatement of its Q3 22 financial results due to erroneous accounting practices.

On this news, $CCSI fell 21.1% and lost over $240 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Consensus Cloud and its executives failed to produce accurate financial statements, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
23 February 2023
Collecting participants…

Consensus Cloud Solutions Inc

Consensus Cloud Solutions, Inc., together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. It offers eFax Corporate, a digital cloud-fa...

    Ticker
    CCSI.US
    ISIN
    US20848V1052
    CIK
    1866633
    Sector
    Technology
    Industry
    Software - Infrastructure
    Country
    USA
    Address
    700 South Flower Street, Los Angeles, CA, United States, 90017