Consensus Cloud Solutions, Inc. (NASDAQ: CCSI)

This investigation is for anyone who acquired securities in Consensus Cloud Solutions, Inc. (NASDAQ: CCSI) prior to February 22, 2023.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company had sufficient controls in place to prevent improper accounting but then by improperly recognizing revenue.

On February 22, 2023, after trading hours, Consensus Cloud disclosed that it would restate its third quarter 2022 financial results, reducing revenue by $4.1 million and net income by $1.7 million. The restatement resulted from errors related to an accounting practice “inherited from the spin transaction in its SoHo business” as well as the timing of revenue that “the Company has concluded should be reclassified as deferred revenue.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Consensus Cloud Solutions, Inc. (NASDAQ: CCSI) prior to February 22, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.