Two law firms are investigating Camping World after a stock drop of nearly 25 percent following the company’s disclosure of an accounting mistake.
The company said it had found errors in earlier financial reports involving a tax-related figure and corrected its 2024 results, adding $43.8 million to its reported assets.
The next day, the company’s stock fell $4.17 per share, closing at $12.65, sending shockwaves through investors. For most RVers, however, day-to-day operations at Camping World stores and service centers remain the same.
Camping World stock drop leads to closer look
The law firms—Bronstein, Gewirtz & Grossman, LLC, and Pomerantz LLP—are reviewing whether Camping World or its executives misled investors or violated securities laws. Both are encouraging shareholders who lost money to contact them about potential legal action.
Camping World, led by CEO Marcus Lemonis, operates more than 200 retail and service locations nationwide, selling travel trailers, motorhomes, and RV supplies. The company has not publicly commented on the investigations.
For street-level RVers, it’s business as usual
For RV owners, the accounting misstep shouldn’t affect normal operations. Sales, parts, and warranty services are continuing as usual. Still, the news comes during a challenging period for the retailer.
It has faced a softer RV market, tighter consumer spending, and more competition from independent dealers.
While legal and financial questions play out on Wall Street, most RVers are watching the brand for practical reasons: reliable service, gear, and trade-ins. So far, there’s no sign the accounting error will change how Camping World serves its customers. Many RVers are shrewd enough analysts on their own to make a call.
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RVT1234b
For an accounting error be corrected to an asset gain and have it result in a 25% drop in stock price, there is usually a LOT more to the story. What was overstated by that $43.8 million?
Money in Marcus’ pocket.
From “The Motley Fool:”
…the company said it undercounted deferred tax assets, leading to a restatement of the balance sheet a year ago that increased deferred tax assets by $43.8 million. It also raised retained earnings by $10.4 million and additional paid-in capital by $33.4 million.
A lot of between the lines reading in that little tidbit. A journal entry into the general ledger last year which disappeared this year….accidentally….. maybe…. simple oversight, now corrected.
“Business As Usual”? “Shouldn’t affect normal operations”?
S.O.S.
These will still be bad.
Creative accounting measures??
Old saying-” Walks like a Duck, looks like a Duck and quacks like a Duck; pretty good chance it is a Duck”. “Looks like it is crooked, smells like it is crooked and costs someone a lot of money; pretty good chance it is crooked”. What odds are you giving?
We quit going to Camping World stores and dropped our Good Sam membership 6 years ago. After Lemonis gutted Good Sam’s local chapters, dropped Trailer Life and Motorhome Magazine, made Trip Advisor available only to subscribers, and closed many great family-owned RV dealers after buying them, we decided never to do business with him again. And we haven’t, despite being 4 miles from one of his stores/dealerships. Between Amazon, Walmart, and Coach-Net, we can get everything Lemonis sells and generally at a better price!
No one should be surprised at irregularities with Camping World. I avoid them like a plague.
I don’t understand why no one mentions the white elephant in the room. The low quality of these high-priced units is really starting to be the over-whelming discussion in the camping circles. You can float junk for a while but later on the low quality shakes out.