Equity LifeStyle Properties, 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
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.
