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04-24-2019, 06:05 AM
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#1
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Senior Member
Join Date: Sep 2018
Posts: 255
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Camping World CEO, Lemonis charged with fraud
https://www.chicagobusiness.com/news...inancial-fraud
anyone else hear about this? This popped up on one of my news feeds?
Quote:
A lawsuit seeking class-action status accuses Camping World Holdings and certain company officials, including Chairman and CEO Marcus Lemonis, of misrepresenting the company’s financials while they sold more than $530 million in Camping World shares
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04-24-2019, 06:43 AM
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#2
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Senior Member
Join Date: May 2016
Posts: 385
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Quote:
Originally Posted by Jmac00
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As much as I'd like to see Lemonis get his comeuppance, this appears to be a typical shareholder class action suit that happens just about any time a stock tanks:
Quote:
The lawsuit claims investors suffered hundreds of millions of dollars in losses when the stock, which had traded above $47 per share, fell to about $19 per share.
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The shareholders will get pennies and the lawyers will get richer...
__________________
Patrick
Atlanta GA
2023 Renegade Vienna & 2017 Jeep Cherokee Overland
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04-24-2019, 06:52 AM
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#3
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Registered User
Join Date: Jan 2010
Posts: 356
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and off to the races
Quote:
Originally Posted by Papa Foxtrot
As much as I'd like to see Lemonis get his comeuppance, this appears to be a typical shareholder class action suit that happens just about any time a stock tanks:
The shareholders will get pennies and the lawyers will get richer...
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Yep this happened to me I was part of a class action lawsuit for a well known bank, a really big bank. When it was over I got a check for $9.89 cents . the lawyers raked in millions . I still have the check and show it to friends when the conversation turns to money and investments.
What`s a Lawyer at the bottom of the Ocean.......It`s a start.
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04-24-2019, 07:28 AM
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#4
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Senior Member
Join Date: May 2017
Posts: 1,059
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Quote:
Originally Posted by Jmac00
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Not charged but sued. Big difference.
__________________
2018 Nexus Ghost
2016 Ford Expedition
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04-24-2019, 03:59 PM
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#5
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Senior Member
Join Date: Sep 2018
Posts: 255
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uuum, so no one thinks Lemonis falsifying the Financials of Camping World is a criminal case?
seriously, Im not trying to cause trouble, I seriously would like to know if this is a crime.
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04-24-2019, 05:13 PM
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#6
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Senior Member
Join Date: Nov 2017
Location: Crossville,TN
Posts: 196
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I want to see the SEC crawl up his butt, then I'll be satisfied.
__________________
45 Years Rv'ng and no end in sight.
2018 Ram 3500 CC SB 4X4 Limited Cummins/Aisin SRW. Comfort Ride Energy Absorbing Hitch.
2020 Cedar Creek Hathaway 34IK, Reese 19K Sidewinder PB.
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04-24-2019, 05:33 PM
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#7
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Senior Member
Foretravel Owners Club
Join Date: Apr 2016
Location: Home is Where WE PARK IT...
Posts: 6,018
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Not surprising at all... Wait until the dust settles then Lemonis buys back the stock at the deflated price.... rinse and repeat...
__________________
Retired truckdriver,
'02 Foretravel... "This Shack will do"
being pushed by an '06 Scion xB
SKP's of Box Elder, South Dakota
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04-24-2019, 06:14 PM
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#8
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Senior Member
Join Date: May 2016
Posts: 385
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Quote:
Originally Posted by Jmac00
uuum, so no one thinks Lemonis falsifying the Financials of Camping World is a criminal case?
seriously, Im not trying to cause trouble, I seriously would like to know if this is a crime.
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Well, you're way early jumping the gun on that. Right now, it's a civil matter. If the SEC gets involved, it's still a civil matter under regulatory authority. If they find criminal wrongdoing, it will be referred to the appropriate federal prosecutor.
No where did I read that Lemonis had "falsified financials". "False and misleading statements" covers a lot of territory. Could be as simple as making rosey predictions on CNBC. Restating financial reports is common enough in troubled companies - doesn't necessarily indicate fraud. Right now, it's a run-of-the-mill shareholder class action. A dime a dozen.
__________________
Patrick
Atlanta GA
2023 Renegade Vienna & 2017 Jeep Cherokee Overland
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04-24-2019, 06:24 PM
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#9
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Senior Member
Damon Owners Club Freightliner Owners Club
Join Date: Mar 2006
Location: North East Texas
Posts: 4,946
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Quote:
Originally Posted by BSHGTO
What`s a Lawyer at the bottom of the Ocean.......It`s a start.
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and a reason lawyers are required to be buried 20 feet down so the stench does not come to the surface
__________________
USN Retired, Life time member of the DAV.
Enjoying the 2008 Damon Tuscany 4056, #3998 no your eyes are fine, there are really 6 slides
2022 F150 King Ranch or 2012 Edge toads
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04-24-2019, 06:24 PM
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#10
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Senior Member
Damon Owners Club Freightliner Owners Club
Join Date: Mar 2006
Location: North East Texas
Posts: 4,946
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Quote:
Originally Posted by saddlesore
Not surprising at all... Wait until the dust settles then Lemonis buys back the stock at the deflated price.... rinse and repeat...
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henry ford did sly maneuver like that
__________________
USN Retired, Life time member of the DAV.
Enjoying the 2008 Damon Tuscany 4056, #3998 no your eyes are fine, there are really 6 slides
2022 F150 King Ranch or 2012 Edge toads
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