WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Consensus Cloud Solutions, Inc. CCSI based on allegations that Consensus Cloud Solutions has disclosed potentially materially misleading business information to the investing public.

SO WHAT: If you have purchased securities from Consensus Cloud Solutions, you may be entitled to compensation without payment of out-of-pocket expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=12425 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: On February 22, 2023, after close of trading, Consensus Cloud Solutions announced that “as a result of the unintentional errors detected [below]the audit committee (the “Audit Committee”) of the Company’s board of directors has resolved to restate its unaudited financial statements for the three and nine month periods ended September 30, 2022.” in connection with (i) an old accounting practice arising out of the spin- transaction in its SoHo business, which increased revenue by $1.9 million and $5.3 million for the three and nine month periods ended 30 Bad Debts (“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 30 as deferred revenue error.”

As a result of this news, Consensus Cloud Solutions’ stock price fell $12.58, or 21%, to close at $46.92 per share on Feb. 14.