Lumber Liquidators Holdings, Inc. (NYSE Trading Symbol: LL, $35.19) appears to have caused Ray Cotton to take down his personal website and the LinkedIn account that contained his questionable board member claim was also taken down. However, asensio.com is concerned with two things. First, the conflicted between Mr. Cotton’s published comments and those published in Forbes by LL’s founder Tom Sullivan. asensio.com has stated its view that Mr. Cotton’s comments were uninformed and its belief that they have no certain bearing on their validity.
asensio.com view is informed by its experiences in hundreds of similar situations and the understanding this experience provides, however, in the interest of removing all doubts, nothing asensio.com has published should be alleged to be or understood as a criticism of ANY short sellers.
asensio.com suggests that LL cease its ill-funded focus on short sellers and focus on the interest of CBS Corporation (NYSE Symbol: CBS, $60.93) and the individuals that appeared on screen on its CBS 60 Minutes LL segments have been harsh. In our view, based on the detailed explanations provided by LL on its conference call of Thursday morning it now appears that CBS’s conduct may well reach and exceed the applicable standards of malice. We hope CBS issues a full retraction and apology.
We continue to monitor the situation and evaluate its investment merits.
We hope that LL will attend to the Ray Cotton matter and that it will take all appropriate actions on behalf of its shareholders and all Americans against CBS. It appears almost uniquely obvious that in this case CBS acted recklessly and that this has cause an American business and filled the pockets of the plaintiff bar and their ecosystem. Lumber Liquidators should cease speaking about short sellers and starts protecting its shareholders against its true adversary, misguided regulations and CBS.