NEW YORK, December 28, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Inspirato Incorporated (“Inspirato” or the “Company”) ISPO on behalf of the Inspirato shareholders. Our investigation concerns whether Inspirato has violated federal securities laws and/or engaged in other illegal business practices.

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On November 14, 2022, Inspirato announced in a filing with the US Securities and Exchange Commission (“SEC”) that “[o]On November 8, 2022, the Audit Committee (the “Audit Committee”) of the board of directors of Inspirato Incorporated (the “Company”), after discussion with management of the Company, concluded that the Company’s unaudited condensed consolidated financial statements for the period ended and quarterly as of March 31, 2022 and June 30, 2022 (collectively, the “Non-Reliance Periods”) included in the Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) Non -Reliance periods should no longer be taken as reliable.

This is due to the misapplication of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842) (“ASC 842”) in relation to the measurement of right-of-use assets and liabilities, resulting in an understatement of both the right-of-use assets and total lease liabilities of approximately 9% for each of the non-reliability periods, resulting in an understatement of total assets and total liabilities of approximately 5% for each of the non-reliability periods, and due to property-related and other expenses incurred in the first quarter understated and overstated in the second quarter, resulting in cost of sales understated by approximately 1% and overstated by approximately 5% in the first and second quarters. Likewise, any previously issued or submitted reports, press releases, earnings announcements and investor presentations or other…