National Law Firm Investigating Inspirato Incorporated Over Alleged False/Misleading Statements That Damaged Investors

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McCune Law Group, McCune Wright Arevalo Vercoski Kusel Weck Brandt, APC

Feb 22, 2023, 13:51 ET

Complaint Alleges that Inspirato Made Misleading Statements Regarding its Business, Operations, and Prospects

ONTARIO, Calif., Feb. 22, 2023 /PRNewswire/ -- McCune Law Group, McCune Wright Arevalo Vercoski Kusel Weck Brandt APC (MLG) – a national law firm specializing in Securities Litigation, Commercial Litigation, and Class Actions, is investigating the need to bring a lawsuit against Inspirato Incorporated (NASDAQ: ISPO) ("Inspirato") and certain executives over allegations that Inspirato made false and/or misleading statements that failed to disclose important information about their business, operations, and prospects. Unfortunately for investors, these false and/or misleading statements caused severe damages and losses.

A case, captioned Koch v. Inspirato Incorporated et al., No. 1:23-cv-00438 (D. Colo Feb 16, 2023), has been filed in the United States District Court for the District of Colorado, and brings claims on behalf of all purchasers of Inspirato securities during the period of May 11, 2022, through December 15, 2022, inclusive ("Class Period") against Inspirato based on violations of the securities Exchange Act of 1934. As a result, investors have until April 17, 2023, to seek appointment as lead plaintiff in the lawsuit.

The Inspirato Incorporated lawsuit also alleges that the defendants throughout the class period made false and/or misleading statements and/or failed to disclose important information about their business, operations, and prospects in certain financial reports.

The truth began to emerge on November 14, 2022, when Inspirato filed its Form12b-25 with the SEC providing Notice of Late Filing, signed by the Company's CFO Neighbor. On this news, Inspirator's stock price fell by 11.89% to close at $2.00 per share on November 14, 2022.

Then, on November 23, 2022, Inspirato filed its Form 8-K filed with SEC signed by CFO Neighbor, attaching a Press Release, disclosing Inspirato's receipt of a Notice from the Listing Qualifications Department of NASDAQ. On this news, Inspirato's stock price fell by 3.21%, to close at $1.81 per share on November 25, 2022.

On December 15, 2022, after market close, Inspirato filed its Form 10-Q/A with SEC to amend its Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, that was originally filed with the SEC on May 13, 2022, signed by CEO Handler and CFO Neighbor. On this news, Inspirato's stock price fell by 6.58%, to close at $1.41 per share on December 16, 2022.

As a result of Defendants' wrongful acts and omissions and the precipitous decline in the market value of the Company's securities, Plaintiff and other Class members have suffered significant losses and damages.

About MLG's Securities Litigation Practice: The Securities Litigation attorneys of MLG provide representation for investors who have been wronged through fraud, scams, and schemes. Our team has many years of experience bringing claims on behalf of investors and pursues all avenues of compensation to maximize our clients' recovery as they navigate this tumultuous time. With hard-hitting tactics and dedicated legal professionals protecting our clients' interests, MLG's Securities Litigation Practice Group hopes to hold companies accountable for their unfair or illegal financial practices. 

About McCune Law Group, McCune Wright Arevalo Vercoski Kusel Weck Brandt APC: McCune Law Group has a deep history of success for its clients. MLG maintains California offices in Ontario, San Bernardino, Calimesa, Palm Desert, and Irvine and supports its national practice with offices in Illinois and New Jersey. Visit mccunewright.com for more information.  

About the Lead Plaintiff Process: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or otherwise acquired shares during the Class Period to seek appointment as lead plaintiff. The lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. The lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the class action lawsuit. Attorney Advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact: [email protected]

SOURCE McCune Law Group, McCune Wright Arevalo Vercoski Kusel Weck Brandt, APC