"Valence is facing a stock fraud lawsuit precisely because the crooks that run this fraud lied and cheated." -- Bill Wexler, SI VLNC #17113
Until Wexler claimed to have 31,800 XOM, 10,000 COST, and some INTC, I assumed Wexler must be a casually reckless kid throwing around potentially libelous charges because his lack of wealth made him effectively judgment-proof. Now I have to wonder if either he has stupidly revealed he has sufficient assets to go after in a libel lawsuit, or he is dissembling about his holdings.
Of course, he will assert a third possibility, which is that he is right and would win a lawsuit. It should, however, give him pause that "the crooks" not only have not vamoosed with their loot, but have refused to settle with the plaintiff shareholders. They too seem to think they will win. Wexler may not be a reckless kid, but he does seem to be a reckless risk-taker when the situation seems to offer him the possibilities of so little gain and so much cost.
lws |
