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Stock impact report

Lugano Diamonds files for bankruptcy, seeks buyer in wake of CEO's alleged fraud [Los Angeles Times (CA)]

D/B/A Compass Diversified Holdings Shares of Beneficial Interest (CODI) 
Last d/b/a compass diversified holdings shares of beneficial interest earnings: 4/30 04:15 pm Check Earnings Report
US:NYSE Investor Relations: ir.compassequity.com
former chief executive, Mordechai “Moti Ferder, fraudulently brokered third-party diamond sales with wealthy clients and fled with their investments. The Newport Beach-based company announced in a news release Sunday that Lugano and its affiliates have filed for Chapter 11 relief in the U.S. Bankruptcy Court for the District of Delaware, where parent company Lugano Holding, LLC. is based. The company asks the court to approve the sale of “substantially all of its assets” through an arrangement that will allow it to continue doing retail business as it seeks approval of $12 million in debtor-in-possession financing that would provide roughly $10 million of liquidity, the release states. Lugano has secured an undisclosed offer from Boston-based Enhanced Retail Funding, an investment firm focused on acquiring assets with an expertise in the jewelry sector, which will serve as a baseline, or “stalking horse,” bid at auction open to potentially higher and better offers. Josh Gaynor Show less Read more
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