Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, March 20, 2024 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises PSQ Holdings, Inc. (“PSQ” or the “Company”) (NYSE: PSQH) investors that the law firm has initiated an investigation on behalf of investors that lost money on their PSQ stock. PSQ investors are encouraged to contact the firm to discuss their legal rights.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
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.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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