Bullish indicating open at $55-$60, IPO prices at $37
Conifer Holdings, Inc. (NASDAQ:CNFR) announced Friday that its Audit Committee has dismissed Plante & Moran, PLLC as its independent registered public accounting firm, effective July 8. The company’s board approved the appointment of Grant Thornton LLP as the new independent auditor for the fiscal year ending December 31, 2025.
According to the press release statement based on the company’s SEC filing, there were no disagreements with Plante Moran on accounting principles, financial statement disclosures, or auditing procedures during the two most recent fiscal years or the interim period through July 8, 2025. The audit reports from Plante Moran for fiscal years ended December 31, 2024, and December 31, 2023, did not contain adverse opinions or disclaimers and were not qualified or modified regarding uncertainty, audit scope, or accounting principles.
The filing notes that during the quarter ended September 30, 2024, a material weakness was identified related to accounting and disclosure for complex, non-routine transactions, specifically regarding the disposal of the company’s agency business. Management implemented enhancements to the control environment in the fourth quarter of 2024, which were determined to have remediated the material weakness. The Audit Committee discussed these matters with Plante Moran, and the company authorized Plante Moran to respond fully to inquiries from Grant Thornton regarding the material weakness.
Conifer Holdings stated that it did not consult Grant Thornton on any matter related to accounting principles or auditing opinions during the relevant periods prior to the appointment.
A letter from Plante & Moran, dated Friday, was included as an exhibit in the company’s SEC filing.
Conifer Holdings’ common stock and 9.75% Senior Notes due 2028 are listed on The Nasdaq Stock Market LLC under the symbols CNFR and CNFRZ, respectively.
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