Consensus Cloud Solutions, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The investigation is centered around whether the Company provided inaccurate or incomplete information to investors. On February 22, 2023, Consensus Cloud Solutions announced that due to unintentional errors, their unaudited financial statements for the three and nine months ending on September 30, 2022 will be restated. The Company attributes the errors mainly to a legacy accounting practice related to the SoHo business that grossed up revenue by $1.9 million and $5.3 million for the respective periods, along with delayed recognition of revenue of $2.2 million and $2.5 million for the same periods, which should have been classified as deferred revenue. As a result of this announcement, the Company’s shares fell by 21% the following day.
