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Marcus being sued.

Halmfamily
Explorer
Explorer
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/
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ksg5000
Explorer
Explorer
LOL. Many who has been senior officer of major company gets used to being named in lawsuits - comes with the job.
Kevin

2012Coleman
Explorer II
Explorer II
So being called "The Profit" doesn't equate with being profitable? :H
Experience without good judgment is worthless; good judgment without experience is still good judgment!

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mockturtle
Explorer II
Explorer II
Yes, class action suits only benefit the attorneys involved.
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wa8yxm
Explorer III
Explorer III
I made the link clickable

No other comment as I've yet to follow it.

Ok, read the article.. If I were on the jury I'd find for the defense. A stock market investor is mad because his stock lost value.. Hey. it happens. That is why it is called "Speculation" I do not see any evidence of Fraud IN THE ARTICLE...

Now there may have been Fraud. but I'm inclined to think not.
Home was where I park it. but alas the.
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Campfire_Time
Explorer
Explorer
Lawsuits like this are very common. Most never get publicized, and few of those see the light of day, in other words they get settled long before going to court.
Chuck D.
โ€œAdventure is just bad planning.โ€ - Roald Amundsen
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Mortimer_Brewst
Explorer II
Explorer II
No worries! The Good Sam Doesnโ€™t Care Team will get in touch with the gentleman who filed the suit and do their thing. If they provide their usual level of service, Marcus is ... (fill in the blank).
If ethics are poor at the top, that behavior is copied down through the organization - Robert Noyce

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Ralph_Cramden
Explorer II
Explorer II
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.
Too many geezers, self appointed moderators, experts, and disappearing posts for me. Enjoy. How many times can the same thing be rehashed over and over?

DutchmenSport
Explorer
Explorer
"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.

EgorKC
Explorer
Explorer
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
You cannot stop growing old but you don't have to grow up. ๐Ÿ™‚
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rk911
Explorer
Explorer
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.
Rich
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_________________________________
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westernrvparkow
Explorer
Explorer
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.

Dutch_12078
Explorer II
Explorer II
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.
Dutch
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K_Charles
Explorer
Explorer
I had a few stocks that went down once. I didn't know they were guaranteed to increase in value.

rk911
Explorer
Explorer
clicky
Rich
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_________________________________
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Lwiddis
Explorer II
Explorer II
Gee whiz is any big business not being sued? Elementary my dear, elementary.
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