Forum Discussion

Halmfamily's avatar
Halmfamily
Explorer
Oct 23, 2018

Marcus being sued.

Thought this was interesting. Not sure if this was posted yet, did not see it. Marcus Lemonis being sued and complainants trying to get class action status.

http://rvdailyreport.com/industry/lawsuit-names-cnbc-star-lemonis-in-alleged-financial-fraud/
  • DutchmenSport wrote:
    "when the stock, which had traded above $47 per share, fell to about $19 per share."

    So.... what happens in a month or two when stock prices go back up? Will everyone have to give back their $5.00 gift certificates? :h

    Purchasing stocks = gambling in my opinion, and looks like they lost at the poker table. Give it time, it will reverse again.


    Reading through the complaint, who knows. One thing is certain if the claims in the complaint are true it's not going to be pretty for CW and Emperor Marcus Quirinus Romulus Silvanus Lemonis, class action or not.

    I had expected something like this to eventually come about when they went public, then snatched up businesses at auctions that were already failing. Gander Mountain was started and operated by people who knew the outdoor equipment business, where they failed was not keeping up with online business and they had the old clock cleaned by Johnny Morris and Bass Pro who also ended up owning Cabelas, along with other companies such as Dicks and REI also operated by people who know that business in and out. Along comes Marcus and he's going to turn that around? With what? The same exemplary online experience and customer service that one gets online or by walking into a Camping World Store or dealership / service department? When I had my run ins with Camping World while trying to spend money on new rigs 3 different times I said I would never, ever step foot in one again and haven't.

    Muhahahahahahahahahahahahahahahaha, I just spit coffee all over the keyboard just thinking about it.
  • "when the stock, which had traded above $47 per share, fell to about $19 per share."

    So.... what happens in a month or two when stock prices go back up? Will everyone have to give back their $5.00 gift certificates? :h

    Purchasing stocks = gambling in my opinion, and looks like they lost at the poker table. Give it time, it will reverse again.
  • westernrvparkowner wrote:
    The lawsuit seeks class action status. That will allow for a settlement where the lead plaintiff and the attorneys each get a couple of million dollars and all the other members of the class get a $5.00 coupon that can be applied towards the purchase of a new RV. Winners all around.


    My experiences were ironic. Got a $25.00 coupon towards the appliance brand I will never buy again (two failed 3-6 months after warranty was up). 2nd time I opted into a class action suit my Cell phone company gave me a $3.00 credit on my bill after it was all said and done. That was my sign that I am a slow learner. :B
  • westernrvparkowner wrote:
    The lawsuit seeks class action status. That will allow for a settlement where the lead plaintiff and the attorneys each get a couple of million dollars and all the other members of the class get a $5.00 coupon that can be applied towards the purchase of a new RV. Winners all around.

    yup. IMO very few class actions truly are for the benefit of the class.
  • The lawsuit seeks class action status. That will allow for a settlement where the lead plaintiff and the attorneys each get a couple of million dollars and all the other members of the class get a $5.00 coupon that can be applied towards the purchase of a new RV. Winners all around.
  • There's no guarantee that any stock will increase in value, but if the named defendants deliberately misrepresented the company's financials as alleged to attract investors, then the case likely has merit.
  • I had a few stocks that went down once. I didn't know they were guaranteed to increase in value.
  • Gee whiz is any big business not being sued? Elementary my dear, elementary.