NEW YORK, Feb. 17, 2023 (GLOBE NEWSWIRE) — Lowey Dannenberg PC, a law firm preeminent in obtaining consumer and investor legal protection, announces it has filed a class action lawsuit against Inspirato Incorporated ISPO (“Inspirato” or the “Company”) for violations of the federal securities laws on behalf of investors who purchased or otherwise acquired Inspirato Securities between May 11, 2022 and December 15, 2022, both dates inclusive (the “Collection Period” ).

On February 16, 2023, a complaint was filed against Inspirato and certain of its officers alleging that the company had violated federal securities laws. The complaint alleges that the defendants made materially false and/or misleading statements and/or failed to disclose: (1) the Company’s unaudited condensed consolidated financial statements as of and for the dates of March 31, 2022 and June 30, 2022 quarters ended (collectively, the “Non-Reliance Periods”) contained in quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) for the Non-Reliance Periods are no longer reliable were; (2) Quarterly reports could no longer be trusted due to the incorrect application of updated accounting standards related to the measurement of right-of-use assets and liabilities, resulting in an understatement of both 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 by approximately 5% for each of the non-reliability periods, and overaccrued due to underaccrued real estate and other expenses in the first quarter and second quarter, what resulted in cost of sales in the first and second quarters increasing by approximately earnings announcements and investor presentations or other communications…