To All.....
Speculation abounds surrounding the settlement between PRST and those specified individuals named for their internet postings. Here's the skinny.....They ALL just settled, individually, with PRST, agreeing to refrain from making any disparaging remarks in any public forum about PRST or any related activity of the companys'. They each agreed to pay MINIMAL amounts of legal fees (under $10,000) to the plaintiff. In NO WAY SHAPE OR FORM did any of the defendants pay PRST any fines or damages.
I would certainly agree with anyones assessment that PRST succeeded in silencing some of its most voracious critics. I bemoan any attempt at censor and do not feel that this type of legal action is beneficial to any party, including the PRST bulls. Any, and all information should be freely disseminated at all times. IMHO, these
defandants did no more damage to PRST than Cabot and Penn Merchant, and other hypesters.
Also, there is talk out in NASDAQ land of certain market-makers and certain traders in PRST filing a conjunctive lawsuit against PRST, Cabot, and the Howards for intentional deception and manipulation. I was contacted earlier this week about this and declined to participate as it is my personal principle to avoid entangling myself into unnecessary leagal actions. Finally, I am also hearing rumors ( I do qualify this as a rumor) from very well-placed clearing sources that Cabot Money Management is suffering severe margin-calls and having contentious conversations with their clearing firm. I am not presently involved, short or long, in PRST stock at present. The sum of all this is that the past legal activity will most certainly predict future legal action and that will serve to muddy PRST's credibility further with institutions and other possible buyers. Good Luck to all of you PRST traders, you'll need it. |
