New Investigations of Equity LifeStyle Properties (ELS) Announced, Manufactured Housing Industry Trade Media and Manufactured Housing Institute (MHI) Largely Silent; plus MHVille Markets


Since MHProNews reported some 5 weeks ago on the initial wave of investigations of Equity LifeStyle Properties (ELS) by plaintiffs’ attorneys on behalf of that company’s shareholders, the pace of those announced probes apparently has not slowed. Perhaps oddly, or revealingly, others who claim to be manufactured housing industry trade media or bloggers have seemingly remained silent on this topic. Nor is there any mention of these legal probes on the Manufactured Housing Institute (MHI) website’s ‘news’ page as of the time this report was being prepared, nor from MHI’s teasers to their news linked from their home page. ELS’ Patrick Waite holds a board position on MHI’s potent “executive committee.”

To frame the press release that will follow in Part I of this report and analysis, a Q&A thread was opened with Bing’s AI powered Copilot. The initial inquiry had an apparent misreading of the question by Copilot, so the query was restated as follows.

> “Copilot, I think you misunderstood my question. See this linked item provided and other press releases like it in the last 6 weeks This question has to do with something other than the Fegan Scott class action case. It is related to ELS’ admission in an SEC filing. There have been several weeks of investigations and probes of Equity LifeStyle Properties announced by law firms and others who state in news releases that they are investigating the firm for possible breaches of their fiduciary duties. What light can you share on that topic? Also, given that ELS owns MHInsider, and appears to have influence with others who are manufactured housing industry bloggers and trade media, are there any manufactured home industry trade media that have reported on this topic? And since the Manufactured Housing Institute has an ELS board member as part of their Executive Committee, can you find any public items from that organization on their public-facing side of their website, social media, or elsewhere? Provide links to all results you cite.”

BingCopilotAI-Screen1.3.2024MHLivingNewsI apologize for the oversight in my initial response. Thank you for clarifying your question. Let’s address each aspect:

  1. Investigations of Equity LifeStyle Properties (ELS):
  2. MHInsider and Manufactured Housing Industry Trade Media:
  3. Manufactured Housing Institute (MHI):
    • MHI, an industry association, has an ELS board member as part of their Executive Committee.
    • Regrettably, I couldn’t find any public items related to the ELS investigations on MHI’s public-facing website or social media channels. Both ELS and MHI have remained silent on this matter1.

For further details, you can refer to the provided sources:

Learn more
It is open for debate if Copilot is correct in saying that: “MHInsider is a leading news source for manufactured housing professionals” given that a top executive of that firm publicly said that Manufactured Home Pro News (MHProNews) is the “preeminent” source for news and information about the manufactured home industry. Logically, how can some operation be ‘a leading news source’ and yet not provide relevant news on an important topic for professionals, employees, investors, consumers, and others? More on that in Part II, below.
That noted, Part I will provide copies of two recent press releases as examples of such announced investigations of ELS by attorneys representing shareholders’ interests.

Part I Press Release by Third Parties Probing ELS

1) Two examples of additional press releases related to this developing topic are provided, the first one is posted below and was posted on 3.7.2024.

QuoteMarksLeftSideInvestigation announced for Investors in shares of Equity LifeStyle Properties, Inc. (NYSE: ELS) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Equity LifeStyle Properties, Inc.

Investors who purchased shares of Equity LifeStyle Properties, Inc. (NYSE: ELS) have certain options and should contact the Shareholders Foundation at or call +1(858) 779 – 1554.

The investigation by a law firm concerns whether certain Equity LifeStyle Properties, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Chicago, IL based We are a self-administered, self-managed real estate investment trust (“REIT”).

On January 22, 2024, Equity LifeStyle Properties, Inc. disclosed in a filing with the U.S. Securities and Exchange Commission that a prior error in the Company’s previously filed financial statements determined to be immaterial was in fact, material. The error, which related to the classification of class outflows from the purchase of manufactured homes, led Equity to advise investors that its annual report for 2022 and first quarter report for 2023 should no longer be relied upon.

Shares of Equity LifeStyle Properties, Inc. (NYSE: ELS) declined from $72.84 per share on December 19, 2023, to $65.83 per share on January 25, 2024.

Those who purchased shares of Equity LifeStyle Properties, Inc. (NYSE: ELS) have certain options and should contact the Shareholders Foundation.

Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR. …”


2) A second example of such a probe on behalf of shareholders is shown below and was provided on 2.20.2024.

QuoteMarksLeftSideROSEN, RECOGNIZED INVESTOR COUNSEL, Encourages Equity LifeStyle Properties, Inc. Investors to Inquire About Securities Class Action Investigation – ELS

NEW YORKFeb. 20, 2024 /PRNewswire/ —

WHY: New York, N.Y.February 20, 2024. Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Equity LifeStyle Properties, Inc. (NYSE: ELS) resulting from allegations that Equity LifeStyle Properties may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Equity LifeStyle Properties securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email or for information on the class action.

WHAT IS THIS ABOUT: On January 22, 2024, after market hours, Equity LifeStyle Properties filed with the U.S. Securities and Exchange Commission (“SEC”) a current report on Form 8-K in which it announced that “[f]ollowing receipt of a further Comment Letter in which the Staff of the SEC informed the Company it disagreed with the materiality conclusion, the Company and the Audit Committee … determined that the error was material to its previously issued financial statements, as included in the Annual Report on Form 10-K for the year ended December 31, 2022 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 (the ‘Prior Period Financial Statements’).” Equity LifeStyle Properties further stated that it “determined that the Prior Period Financial Statements, as well as, any reports, related earnings releases, investor presentations or similar communications of the Company’s Prior Period Financial Statements, should no longer be relied upon.”

On this news, Equity LifeStyle Properties’ stock fell $1.96 per share, or 2.84%, to close at $67.00 per share on January 23, 2024. The next day, it fell $1.45 per share, or 2.16%, to close at $65.55 per share on January 24, 2024.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827



MHProNews previously reported on this still developing issue in the report linked here. As a disclosure, none of the reported items have involved any compensation by a law firm to MHProNews. Restated, it is ‘as news’ that these items are being reported here, and not because someone made a payment to our parent company so that we would cover the topic.

Part II – Additional Information with More MHProNews Analysis and Commentary

It is useful to periodically mention the definition of “news.” According to Oxford Languages, “news” is: “newly received or noteworthy information, especially about recent or important events.” It is fair to note that neither this platform, nor the most giant mainstream news sources can cover every item that might be called “news.”

That said, the evidence-based case can be made that bloggers and self-proclaimed ‘news’ source tied to the Manufactured Housing Insitute (MHI) routinely downplay, ignore, or attempt to otherwise distract readers from troubling facts and evidence that should be treated as news.  Tech media, for example, routinely cover legal actions or other controversies in the tech space. So, by way of analogy, why is it that in manufactured housing trade media fails to do for their perhaps scanter numbers of readers the favor of properly informing them about the issues in the artificially diminished manufactured housing industry?

Per numerous informed sources, virtually all HUD Code manufactured home producers, numbers of retailers, communities, associations, other nonprofits, public officials, and others are regular readers of MHProNews. That is not necessarily because they like the news that they find here. Some might even hate what they find here. But news is what it is. So, the evidence-based case can be made that readers flock here because we cover issues in depth with analysis that others may not cover at all.

So, management at all levels, business owners, investors, and others flock to MHProNews. As to our rivals? Per known information, and per Copilot (see below) not so much.  MHProNews, per all known information, dominates in the news, tips, and views space of MHVille.  We stand squarely in favor of profitable and sustainable industry growth through honest business practices and the full and proper implementation of existing laws that could lead to a manufactured housing industry renaissance.

That said, MHProNews will pivot back to the Q&A with left-leaning Copilot to the headline ELS investigation and related topics.

> “In a related inquiry, can you find and identify which manufactured home industry focused trade media have reported on the national antitrust cases that have been brought on behalf of residents of several Manufactured Housing Institute and/or Institute connected state associations for alleged price fixing? How many such cases can you identify at this time? What defense has been offered by those who have been hit with these charges? Link your results.”

BingCopilotAI-Screen1.3.2024MHLivingNewsCertainly! Let’s explore the antitrust cases related to manufactured housing and their coverage in trade media:

  1. Muns v. Datacomp Appraisal Systems, Inc. et al:
  2. Townsend v. Various Defendants (Case No. 1:23-cv-16462):
    • Plaintiff: Gregg Townsend (individually and on behalf of others similarly situated)
    • Defendants:
      • Datacomp Appraisal Systems, Inc.
      • Equity Lifestyle Properties, Inc.
      • Hometown America Management, L.L.C.
      • Lakeshore Communities, Inc.
      • Sun Communities, Inc.
      • RHP Properties, Inc.
      • YES! Communities, Inc.
      • Inspire Communities, L.L.C.
      • Kingsley Management, Corp.
      • Cal-Am Properties, Inc.
    • Allegations: Similar to the Muns case, alleging price fixing and inflation of manufactured home lot rental prices.
    • Lawsuit Filed: December 2023
    • Read more.
  3. Industry Coverage:
  4. Defense:

For further details, you can refer to the provided sources:

Learn more

> “Has Manufactured Home Living News (MHLivingNews) also covered this developing antitrust topic? Link results.”

BingCopilotAI-Screen1.3.2024MHLivingNewsCertainly! Mobile and Manufactured Home Living News (MHLivingNews), along with our sister site MHProNews, has been diligently examining evidence related to serious allegations of antitrust violations, possible RICO (Racketeer Influenced and Corrupt Organizations Act) violations, and other matters. These allegations often involve entities that are either members of the Manufactured Housing Institute (MHI) or are linked to state associations associated with MHI. The recent antitrust cases have raised significant concerns within the manufactured housing industry.

Here are the key details:

  1. Class Action Case No. 23-cv-6715:
    • Plaintiffs: Carla Hajek and Gregory Hammerlund (individually and on behalf of others similarly situated).
    • Defendants:
      • Datacomp Appraisal Systems, Inc.
      • Equity LifeStyle Properties, Inc. (ELS)
      • Hometown America Management, L.L.C.
      • Lakeshore Communities, Inc.
      • Sun Communities, Inc.
      • RHP Properties, Inc.
      • YES! Communities, Inc.
      • Inspire Communities, L.L.C.
      • Kingsley Management, Corp.
      • Cal-AM Properties, Inc.
    • Allegations: The defendants are accused of conspiring to fix, raise, and systematically inflate mobile home lot rental prices at more than 150 locations across the United States. This antitrust class action lawsuit seeks treble damages, injunctive relief, and other appropriate remedies1.
    • Read moreClass Action Case No. 23-cv-6715.
  2. Coverage by MHLivingNews:
  3. Redacted Information:

For further information, you can refer to the detailed report on MHLivingNews: Class Action Case No. 23-cv-6715.

Learn more
Note that several of these items involve known MHI members and/or firms who are members of one or more MHI-linked state association(s) affiliate.  Despite their so-called “Code of Ethical Conduct” MHI seems disinterested in such controversies.  A look at their board may suggest some of the reasons why this is so.

> “MHProNews provided an analysis of some ‘defenses’ offered in MH Review of the allegations, is that correct? It cited remarks by Dees and others, correct? Can you provide a snapshot of that report and analysis? Link results.”

BingCopilotAI-Screen1.3.2024MHLivingNewsCertainly! Let’s delve into the analysis provided by MHProNews regarding the defenses offered in response to the antitrust allegations. Specifically, we’ll focus on the remarks made by Dr. Cody J. Dees and other industry insiders.

  1. Frank Rolfe’s Perspective:
  2. Dr. Cody J. Dees’ Insights:
  3. MHProNews Coverage:
    • MHProNews has been actively reporting on this topic, providing insights, analysis, and commentary.
    • For a detailed snapshot of the analysis, including Dees’ remarks and industry perspectives, you can read the full report on MHProNews: Dees ‘Price Fixing’ Defense MHCommunities Antitrust Case.

Remember that this ongoing legal battle has significant implications for the manufactured housing industry, and understanding the various viewpoints is essential for all stakeholders involved.

Learn more

> “Can you find a reference like the one that follows? MHVillage/Datacomp/MHInsider Executive Darren Krolewski said: “…much appreciation for the valuable (and often thankless) job that you do. You have truly become the preeminent news source for the manufactured housing industry and I wish you many more years of success.” Link the results.

BingCopilotAI-Screen1.3.2024MHLivingNewsCertainly! Here’s a reference from Darren Krolewski, the Co-President and Chief Business Development Officer of MHVillageMHInsider, and Datacomp:

“Much appreciation for the valuable (and often thankless) job that you do. You have truly become the preeminent news source for the manufactured housing industry, and I wish you many more years of success.”

This commendation highlights the crucial role played by industry news sources in keeping professionals informed about developments in the manufactured housing sector1. …”


Note that response by Copilot could be refined, because the above is Krolewski current title, and not the title he had when that on-the-record remark was offered.

As MHProNews periodically reminds readers, Bing provides the following disclaimer: “Copilot uses AI. Check for mistakes.” Of course, something similar can be said about regular Google or other searches, which may offer incorrect search results and/or may seem to tilt toward favored organizations and political stances over others. That disclosed, Copilot almost immediately provided the above, which was largely correct, save that current-vs-then title for Krolewski glitch.


> “Based on what you are noting and prior Q&As, is it fair to say that on several significant issues impacting the manufactured home industry’s businesses, professionals, owners, investors, employees, advocates, consumers, nonprofits, and others, that it is often only MHProNews/MHLivingNews that report on important issues? Can you give some examples of that and link results?”

BingCopilotAI-Screen1.3.2024MHLivingNewsCertainly! Let’s explore some significant issues impacting the manufactured home industry and how MHProNews and MHLivingNews have been at the forefront of reporting on these matters:

  1. Manufactured Home Living Myths Debunked:
  2. Year-Over-Year Manufactured Home Production Declines:
  3. Top 25 Most-Read Articles for Industry Professionals:
  4. Index of Hot Topics on MHLivingNews:

In summary, MHProNews and MHLivingNews play a crucial role in keeping industry professionals informed, addressing misconceptions, and shedding light on critical issues affecting various stakeholders in the manufactured home industry.

Learn more
Well, this analysis and commentary MHProNews and our MHLivingNews sister site could go on. But once Copilot said: “The fact that MHProNews is the runaway most-read trade media serving the industry underscores its importance as a reliable source of information3” might be a good place to pivot toward the markets report.  To learn more, stay informed by checking in regularly and also see the linked reports that follow.
Facts always are what they are. The truth properly and well told has enduring value.

When it comes to “Industry News, Tips, and Views Pros Can Use” © who do far more manufactured home industry pros turn to? Per Bing’s AI powered Copilot, it is MHProNews, where “We Provide, You Decide.” ©


MHVillage/Datacomp/MHInsider Executive Darren Krolewski said: “…much appreciation for the valuable (and often thankless) job that you do. You have truly become the preeminent news source for the manufactured housing industry and I wish you many more years of success.”
On December 11, 2022 MHProNews uploaded this report: Since that date a wave of litigation has hit the manufactured home industry the very next year. Stay tuned to the runaway #1 news, tips, and views source which AI powered Copilot said: “The fact that MHProNews is the runaway most-read trade media serving the industry underscores its importance as a reliable source of information.” Our reports routinely stand the test of time and stay relevant weeks, months or years after they are published. 
“With malice toward none with charity for all with firmness in the right as God gives us to see the right let us strive on to finish the work we are in to bind up the nation’s wounds, to care for him who shall have borne the battle and for his widow and his orphan ~ to do all which may achieve and cherish a just and lasting peace among ourselves and with all nations.” – Abraham Lincoln, Second Inaugural Address.


Part V – is our Daily Business News on MHProNews stock market recap which features our business-daily at-a-glance update of over 2 dozen manufactured housing industry stocks.

This segment of the Daily Business News on MHProNews is the recap of yesterday evening’s market report, so that investors can see at glance the type of topics may have influenced other investors. Thus, our format includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines.

The macro market move graphics below provide context and comparisons for those invested in or tracking manufactured housing connected equities. Meaning, you can see ‘at a glance’ how manufactured housing connected firms do compared to other segments of the broader equities market.

In minutes a day readers can get a good sense of significant or major events while keeping up with the trends that are impacting manufactured housing connected investing.

Reminder: several of the graphics on MHProNews can be opened into a larger size. For instance: click the image and follow the prompts in your browser or device to OPEN In a New Window. Then, in several browsers/devices you can click the image and increase the size. Use the ‘x out’ (close window) escape or back key to return.


Headlines from left-of-center CNN Business – from 3.7.2024

  • House panel unanimously approves bill that could ban TikTok
  • Americans’ credit scores are falling. That hasn’t happened in a decade
  • This aerial picture shows homes near the Chesapeake Bay in Centreville, Maryland, on March 4, 2024.
  • Mortgage rates drop after climbing for four weeks
  • Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
  • Shoppers outside a Costco store in Bayonne, New Jersey, US, on Saturday, Dec. 9, 2023.
  • Why Costco is selling gold bars and silver coins
  • The headquarters for the Boeing Company is seen on February 2, 2024, in Arlington, Virginia.
  • NTSB probing ‘stuck’ control incident on Boeing 737 Max
  • Aldi in Loxahatchee Groves, Fla.
  • Aldi plans to open 800 new locations in the next five years
  • The new “self-service” security checkpoint that the Transportation Security Administration will start testing later this month in Las Vegas.
  • The TSA’s new experiment: Self-service security checks
  • New York Community Bank customers withdrew $6 billion in one month.
  • Customers are pulling their cash from NYCB, but it’s no bank run
  • Lufthansa planes on the tarmac at Frankfurt airport in Germany on March 7, 2024, after a strike organized by trade union Verdi forced the airport to close.
  • Germany is gripped by strikes and Lufthansa is hurting
  • What to expect in Friday’s jobs report
  • Move over, Nvidia. Investors are obsessed with this AI stock you may never have heard of
  • Why Donald Trump’s Super Tuesday win is a defeat for Rupert Murdoch
  • China’s exports jump thanks to demand from India, Russia and other emerging markets
  • Big changes for Apple, Google and other tech giants: Europe’s sweeping law goes into effect today
  • Britain raids the pockets of the jet-setting super-rich to raise $3 billion
  • Liberal California mayors are backing this ballot measure that could lock up repeat retail thieves
  • NTSB rips Boeing for failing to produce key door plug documents
  • Deliberate toxic burn following Norfolk Southern derailment was not necessary, safety regulator testifies
  • Google employee charged with stealing AI trade secrets
  • Applebee’s is shrinking. Its parent company may open joint restaurants with IHOP
  • With the Oscar-nominated ‘Barbie,’ Mattel has arrived in Hollywood. What’s next for the toy company?
  • Top AI photo generators produce misleading election-related images, study finds


In instances such as Apollo, Berkshire Hathaway, Blackstone or others, manufactured housing may only be part of their corporate interests. Note: depending on your browser or device, many images in this report and others on MHProNews can be clicked to expand. Click the image and follow the prompts. For example, in some browsers/devices you click the image and select ‘open in a new window.’ After clicking that selection you click the image in the open window to expand the image to a larger size. To return to this page, use your back key, escape or follow the prompts.
Notice: MHProNews invites the firms named in these reports to respond to any concerns about possibly inaccurate information via email that identifies the concern and offers evidence that sheds a different light on the topic discussed. That said, neither MHI nor MHI publicly traded ‘insider brands’ have done so. They’ve been repeatedly invited to do so, including but not limited to an outreach on Dec 7, 2o23 and Feb 25, 2024.


mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top