Labaton Sucharow has been appointed co-lead counsel in a securities class action against Camping World Holdings, Inc. (“Camping World”), a leading outdoor and camping retailer. Partner Thomas Dubbs will lead the Firm’s litigation team.
The action alleges that Camping World, and certain of its officers, directors, and controlling shareholders, made false and misleading statements and/or failed to disclose adverse information regarding its business, operations, and financial condition, including setbacks integrating Gander Mountain Co., which it acquired in May 2017. These actions resulted in an artificially inflated stock price during the class period.
In February 2018, the company revealed that it had “recently identified material weaknesses in [its] internal control over financial reporting.” Camping World then reported disappointing financial results in May 2018 and August 2018. As a result of these disclosures, the price of Camping World stock fell from a high of $47.19 per share to $19.04.
The case is Ronge v. Camping World Holdings, Inc., et al., No. 18-cv-7030. Labaton Sucharow represents co-lead plaintiff City of Omaha Police & Fire Retirement System.