#United States #New York #Pomerantz LLP #Codere Online #CDRO

Pomerantz Law Firm's Investigation into Codere Online Luxembourg, S.A.

On January 2, 2025, Pomerantz LLP announced its investigation aimed at safeguarding the interests of investors in Codere Online Luxembourg, S.A. (NASDAQ: CDRO). This inquiry raises concerns about possible securities fraud and questionable business practices engaged in by the Company and its management.

Background of the Investigation

The investigation was prompted after Codere disclosed critical information in a recent filing with the U.S. Securities and Exchange Commission (SEC). The disclosure indicated that the accounting firm Marcum LLP had decided to resign from its role as the Company's independent registered public accounting firm. The resignation was stated to be due to challenges faced in completing essential audit procedures, primarily because of a lack of sufficient audit evidence. This situation arose from certain IT control deficiencies related to third-party platforms that the Company relies on, alongside an inadequate internal control framework to address these issues.

Following this disclosure on December 27, 2024, Codere's stock experienced a significant drop, falling by $0.27 per share, which is a decline of approximately 3.84%, closing at $6.77 per share. Such volatility raises alarm bells for investors, making the Pomerantz investigation critical at this juncture.

What Investors Should Know

If investors in Codere are concerned about their rights in light of these developments, they are urged to reach out to Danielle Peyton at Pomerantz LLP for detailed insights on how to get involved in the investigation. Pomerantz is known for its extensive experience in handling complex securities class actions and has a track record dating back over 85 years, with noteworthy recoveries on behalf of shareholders and investors.

The firm’s founder, Abraham L. Pomerantz, is often credited as a pioneer in the sphere of securities class actions, and the firm continues to uphold his legacy by advocating for those impacted by corporate misconduct, breaches of fiduciary duty, and securities fraud.

Conclusion

Pomerantz LLP is committed to scrutinizing whether Codere Online Luxembourg, S.A. and its executives have acted unlawfully or failed in their oversight responsibilities. Investors are encouraged to stay informed and consider joining the class action for recovery of potential losses stemming from these allegations. As the situation evolves, it is advisable for stakeholders to observe future announcements closely, which may reveal further insights into the Company's governance practices and financial health. For additional information and to participate in the ongoing investigation, contact details can be found through Pomerantz's official channels.

For more about Pomerantz's work and its history, investors can visit www.pomlaw.com.

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