Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Inspirato Incorporated (ISPO) on Behalf of Investors
LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Inspirato Incorporated (“Inspirato” or the “Company”) (NASDAQ: ISPO) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your Inspirato investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Inspirato-Incorporated/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On November 14, 2022, Inspirato filed a current report stating that its Audit Committee had determined that financial statements from the previous two quarters should no longer be relied upon. The Company also notified the SEC that it would be unable to timely file its third quarter 2022 quarterly report. On this news, Inspirato’s stock price fell $0.27, or 11.9%, to close at $2.00 per share on November 14, 2022, thereby injuring investors.
Then, on November 23, 2022, Inspirato disclosed that it had received a notice from the Listing Qualifications Department of NASDAQ, notifying it that it was not in compliance with filing requirements. On this news, Inspirato’s stock price fell $0.06, or 3.2%, to close at $1.81 per share on November 25, 2022, thereby further injuring investors.
Then, on December 15, 2022, after market hours, Inspirato amended its first quarter 2022 financial results, disclosing material weaknesses within the Company, including a lack of a “sufficient number of personnel with the appropriate level of knowledge and experience in the application of GAAP” and “a lack of the design and implementation of certain ITGCs related to [its] financial applications and data being adequately restricted.” On this news, Inspiratos’ stock price fell $0.10, or 6.6%, to close at $1.41 per share on December 16, 2022, thereby further injuring investors.
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Whistleblower Notice: Persons with non-public information regarding Inspirato should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email [email protected].
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.
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Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067