NEW YORK, NY / ACCESSWIRE / February 11, 2024 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Soho House & Co Inc. f/k/a Membership Collective Group Inc. ("Soho" or "the Company") (NYSE:SHCO). Investors who purchased Soho securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/SHCO.
Investigation Details:
On or around July 15, 2021, the Company, then known as Membership Collective Group Inc., conducted its initial public offering ("IPO"), selling 30 million shares priced at $14.00 per share. On February 7, 2024, GlassHouse Research ("GlassHouse") published a short report on Soho House, which it described as "a company with a broken business model and terrible accounting." Among other allegations, GlassHouse:
(1) asserted that Soho House "went public to dump on retail investors, all while its debt surged to insurmountable levels";
(2) highlighted the Company's "persistent lack of profitability"; and
(3) expressed "suspicions surrounding the company's accounting practices and critical comments made by both the SEC and its auditors regarding the company's financials."
On this news, Soho House's stock price fell $1.18 per share, or 19.09%, to close at $5.00 per share on February 7, 2024.
What's Next?
If you are aware of any facts relating to this investigation or purchased Soho securities, you can assist this investigation by visiting the firm's site: bgandg.com/SHCO. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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