Equity LifeStyle Properties, Inc. (ELS) Stock Lawsuit Investigation
At a glance
What is the Equity LifeStyle Properties Securities Class Action Lawsuit Investigation about?Gibbs Law Group is investigating potential legal claims on behalf of Equity LifeStyle Properties investors.
What did Equity LifeStyle Properties do Wrong?We are investigating whether ELS has violated federal securities laws by providing false or misleading statements to investors.
What do you get out of this?This potential lawsuit seeks to help Equity LifeStyle Properties shareholders recover their investment losses.
Lost Money in Equity LifeStyle Properties?
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Why is Equity LifeStyle Properties (ELS) stock dropping?
On January 22, 2024, ELS disclosed that errors in past financial statements which it had previously characterized as “immaterial” are now determined to be material. ELS indicated in an SEC filing, that “[t]hese errors relate solely to the classification of cash outflows associated with the purchase of manufactured homes.” According to the SEC filing, after receiving a Comment Letter from the SEC disagreeing that the errors were immaterial, ELS and the Audit Committee determined that “[p]rior Period Financial Statements, as well as, any reports, related earnings releases, investor presentations or similar communications of the Company’s Prior Period Financial Statements, should no longer be relied upon.”
When this news was revealed, ELS’s stock price dropped 2.8% on January 23, 2024, causing harm to investors.
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Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
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