The investigation centers on a Form 8-K filing submitted to the Securities and Exchange Commission on February 27, 2026. In that document, the company disclosed that its interim financial statements for the quarter ending September 30, 2025, could no longer be relied upon. Management attributed the discrepancy to an error in revenue recognition for network construction projects occurring during the first nine months of that year.

Elauwit officials stated the restatement stemmed from work performed by a third-party national accounting firm engaged during the company’s initial public offering process. The firm maintained that the errors did not involve intentional misconduct by its management or staff. Despite these assurances, the disclosure triggered a decline in stock value, with shares falling $0.52 to close at $7.12 on March 2, 2026. Rosen Law Firm is now inviting affected investors to contact attorney Phillip Kim to discuss recovery options through a contingency fee arrangement.