PSQ Holdings, 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.
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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 March 14, 2024, PSQ reported to the Securities and Exchange Commission (SEC) that it had discovered a classification error in its financial reporting. Specifically, the error was found in the Company’s Unaudited Condensed Consolidated Statements of Cash Flows for the three and nine months ended September 30, 2023, and 2022, as reported in the Third Quarter Form 10-Q filed on November 14, 2023. PSQ had incorrectly classified certain cash outflows related to transaction costs from a Business Combination as financing activities when they should have been recorded as operating activities, in line with the predominance principle of ASC 240, Statement of Cash Flows. Consequently, PSQ advised that the financial statements in question, along with any related earnings releases, investor presentations, or similar communications, should no longer be relied upon.
Following the disclosure of this financial reporting error, PSQ’s stock price decreased by $0.18 per share, or 3.72%, ending the day at $4.66 per share.
