Whitney Tilson Asks: Has Lumber Liquidators Failed To Disclose That Its CCO Left?

Lumber Liquidators Has Failed To Disclose That Its Chief Compliance Officer Has Left The Company by Whitney Tilson, Seeking Alpha

Summary

• Ray Cotton has, according to his own LinkedIn page, left the company, but the company has failed to disclose this.
• Given that Lumber Liquidators is under investigation by numerous state and federal agencies and is facing more than 100 lawsuits, Cotton’s departure is highly material information.
• The company’s failure to disclose this information strikes me as a serious breach of disclosure rules.
• At best, this is further evidence of a company in chaos and, at worst, one that is trying to hide something.

Yesterday an acquaintance emailed me the link to the LinkedIn page of Ray Cotton, Lumber Liquidators’ Senior Vice...