Lumber Liquidators shareholders might be surprised to know that yesterday, Thursday, May 30, 2019, Whitney Tilson held a meeting with Lumber Liquidators CEO Dennis Knowles. Tilson is a short-seller whom you will all recall was responsible for the dubious scandals which hit the company in 2015 resulting in billions of dollars of losses to investors. A year later, he actually lost a lawsuit against the company and his group was forced to pay LL $100k.
Whitney Tilson, the man responsible for billions of dollars in shareholder losses at Lumber Liquidators, was actually invited into the company and met with CEO Dennis Knowles and others, for 2 hours.
Of course, the only person who comes even close to Tilson in terms of destruction of shareholder value at LL is Dennis Knowles. Perhaps it is fitting that these two meet. But undoubtedly, it is a slap in the face to all Lumber Liquidators shareholders that the CEO of the company and members of the management team actively engaged with this character.
You can get more info about this meeting here.
I call on all investors to contact Lumber Liquidators investor relations immediately to voice your anger with management and the board, not only for their unwavering degree of incompetence (stock has lost 70% of it’s value in the last 20 months), but for this latest act of egregious disrespect of shareholders.