![]() ![]() Hayward announced on July 28, 2022, that it was expecting its channel partners to reduce its inventory on hand by approximately 4 to 6 weeks in the second half of 2022. On February 22, 2023, the company announced that “as a result of the unintentional errors noted, the audit committee (the ‘Audit Committee’) of the board of directors of the Company reached a determination to restate its unaudited financial statements for the three and nine month periods ended September 30, 2022.” The “unintentional errors” were “primarily relating to (i) to a legacy accounting practice, inherited from the spin transaction in its SoHo business that grossed up revenue by $1.9 million and $5.3 million for the three and nine month periods ended September 30, 2022, respectively, with a corresponding offset to bad debt expense (‘SoHo Error’) and (ii) the timing of revenue recognition of $2.2 million and $2.5 million for the three and nine month periods ended September 30, 2022, respectively, which after review, the Company has concluded should be reclassified as deferred revenue (‘Deferred Revenue Error’).”Ĭlick or paste the following web address into your browser to submit your losses: What actions may I take at this time? If you purchased common stock and suffered significant losses on your investment, join our investigation now: Additional information can be found by following the links below. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws. (NASDAQ: MDRX) any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. ![]() (“Hayward” or the “Company”) (NYSE: HAYW), FOXO Technologies Inc. SAN DIEGO, J(GLOBE NEWSWIRE) - Shareholder rights law firm Johnson Fistel, LLP is investigating Consensus Cloud Solutions, Inc. ![]()
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