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Stagwell Inc.

Company NameStagwell Inc.
Stock SymbolSTGW

On February 27, 2024, Stagwell disclosed that it had identified “errors in the areas of income taxes as well as accumulated other comprehensive loss in its previously filed 2022 annual consolidated financial statements,” and, as a result, revised its 2022 financial statements, increasing tax expenses by approximately $18 million.

On this news, Stagwell’s stock price fell as much as 26% during intraday trading on February 27, 2024, thereby injuring investors.

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