BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Equity LifeStyle Properties, Inc. (“ELS” or the “Company”) (NYSE: ELS) investors concerning the Company’s possible violations of federal securities laws.
On January 22, 2024, ELS disclosed that errors it previously determined to be immaterial in the Company’s prior financial statements regarding classification of cash outflows associated with the purchase of manufactured homes were now determined to be material. The Company further disclosed that, as a result, its full year 2022 and first quarter 2023 financial reports should no longer be relied upon.
On this news, ELS’s stock price fell $1.96, or 2.8%, to close at $67.00 per share on January 23, 2024, thereby injuring investors.
If you purchased ELS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.