<ot somewhat>
Wednesday, Aug 25 1999 8:16AM ET
Reply # 8835 of 8835
REPORTED FOR INFORMATIONAL PURPOSES ONLY
OFF TOPIC
TO: ALL
BASHERS SUED AGAIN!
REPOSTED FROM: Hot Stock Tips/BOBz's
>>>
bashers sued again.
Benson Hedges [209.240.200.143]
benson-hedges@excite.com
Tue, 24 Aug 1999, 11:45pm EDT
Total Renal Sues Internet Users, Alleges Misleading Postings
Torrance, California, Aug. 24 (Bloomberg) -- Total Renal
Care Holdings Inc., the world's second-largest dialysis services
provider, sued four anonymous Internet users, joining a growing
number of companies trying to combat misinformation on the Web.
Total Renal and its former chairman and chief executive,
Victor M.G. Chaltiel, filed the lawsuit in a California state
court in Los Angeles asking for a retraction and public apology
from the defendants. The Torrance, California-based company
alleges the four, known only by Internet pseudonyms, placed false
and misleading information about the company on a Yahoo! Inc.
message board.
Total Renal joins other companies that are suing to stop the
posting of misleading information on boards maintained by Yahoo
and on Go2Net Inc.'s Silicon Investor Web site. Total Renal's
shares have fallen 71 percent this year and in recent months the
company has become a favorite for short-sellers, or investors who
try to profit from a decline in a stock price.
The lawsuit alleges defendants INSIDER_EYE, ALLWHIP,
BAYNEPHRON13847 and MD1493 posted false or defamatory messages
for the purpose of manipulating the stock. It cited examples of
INSIDER_EYE writing 'I want to buy back in but I feel there is
something fishy. Cooking the Books, Over billing. And to think
the least of there (sic) problems is the SEC issue.'
Other postings made reference to executives leaving the
company and to 'expect more to follow.' The lawsuit also
alleges the postings libeled Chaltiel, who earlier this month
resigned from the company.
The lawsuit seeks to uncover the identities of the
defendants and obtain apologies and unspecified damages.
Short sellers attempt to profit by borrowing shares from an
investor who is holding the stock for the long term. The shares
are then sold and theoretically bought back at a lower price to
return to the long-term investor.
Companies that have sued anonymous Internet users include
M.H. Meyerson & Co., Xircom Inc., Carnegie International and
Stone & Webster Inc. |
