<o.t.> G'day all - hi Eric, I am not a legal pro, and I do not want to turn this thread into a legal eagle forum <G>, but "rumor" and "libel" are definitely 2 different things. As you may or may not know, libel is a tough thing, despite the recent string of successes of the celebrities taking the tabloids to court. Wall street rumor mill turns out rumors daily. The easiest is to say so-and-so thinks such-and-such is worth x number of dollars and xyz company may be a good fit. In fact, a reputable magazine chunks this stuff out weekly <vbg>. Rumor is not fact. People use it at their peril. Of course, there is a line one mustn't cross. Remember the PAIR case, the kid was sending out a false PR without the knowledge or consent of the company. That's illegal. Recently, two guys hype some stocks by spamming the chatrooms. Evidently, they got into trouble too, but they got into trouble with SEC, not libel.
I actually want to stay out of this, but the thing is that people ought to disregard rumor unless they are willing to put their investment 100% at risk. What good it is even if the manipulators get caught - if they are guilty of some wrongdoing - after the fact, since the investment is likely to be gone.
best, Bosco |
