RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Camping World Holdings, Inc. (NYSE: CWH) (“Camping World” or the “Company”) on behalf of purchasers of the Company’s Class A common stock between March 8, 2017 and August 7, 2018, inclusive (the “Class Period”).
Camping World shareholders may, no later than December 18, 2018, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Camping World and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that defendants made materially false and misleading statements during the Class Period, and failed to disclose to investors: (i) that the Company’s disclosure controls and controls over financial reporting suffered from a host of material weaknesses; (ii) that the Company’s historical financial results had been materially misstated; (iii) that the Company’s Gander Mountain Co. (“Gander”) stores had encountered integration setbacks, adversely impacting the Company’s earnings growth and profit margins; and (iv) that the Company’s core RV business was experiencing decelerating growth as the Company lagged industry trends and was losing market share to competitors. The complaint further alleges that, as a result of the foregoing, investors purchased Camping World’s Class A common stock at artificially inflated prices as high as $47.19 per share during the Class Period, and suffered significant investment losses as a result of defendants’ alleged misconduct.
On May 8, 2018, Camping World reported disappointing First Quarter Fiscal 2018 financial and operational results, and revealed adverse trends in its core RV business indicating that the Company had lost significant market share to its competitors. On this news, shares of the Company’s Class A common stock fell $4.60 per share, or nearly 17%, to close on May 8, 2018 at $23.02 per share.
Then, on August 7, 2018, Camping World reported disappointing Second Quarter Fiscal 2018 financial and operational results and revealed that problems in its Gander operations were more extensive than previously disclosed. On this news, shares of the Company’s Class A common stock fell an additional $3.17 per share, or over 14%, to close on August 8, 2018 at $19.04 per share.
If you are a member of the class, you may, no later than December 18, 2018, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.