Equity LifeStyle Properties, Inc. Company Investigated by the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Sept. 09, 2024 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Equity LifeStyle Properties, Inc. (“Equity LifeStyle Properties” or “the Company”) (NYSE: ELS) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Equity LifeStyle Properties investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: [email protected], to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On January 22, 2024, after the market closed, Equity LifeStyle Properties (ELS) filed a Form 8-K report with the U.S. Securities and Exchange Commission (SEC). The filing revealed that, following a comment letter from the SEC, ELS realized it had made a significant error in its financial statements. This error impacted the Annual Report on Form 10-K for the year ending December 31, 2022, and the Quarterly Report on Form 10-Q for the quarter ending March 31, 2023.
The company and its Audit Committee concluded that the error was material, meaning it was significant enough to affect the accuracy of the financial statements. As a result, ELS determined that the previous financial statements and any related reports or communications should no longer be deemed reliable.
In response to this announcement, ELS’s stock price dropped by $1.96 per share, or 2.84%, to $67.00 on January 23, 2024. The following day, the stock fell further by $1.45 per share, or 2.16%, closing at $65.55.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bars
[email protected]
310-692-8883
www.portnoylaw.com
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