Did you guys read this thing? Sounds like the only reason they included the message boards in the list of defendants is because they have deeper pockets than the individuals - they do not belong there at all. To accuse a message board of these crimes is ludicrous (I admit it is certainly POSSIBLE but still ridiculously unlikely).
Here's the meat - specifically, what SI is being accused of. I thought I'd include the whole quote so you can all see how even more ridiculous these claims sound when dolled up in legalese:
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* "That Plaintiff is informed and believes and thereon alleges that Defendants, each and all of them [note: this phrase includes SI too], have aided and abetted, and lent active assistance to stock brokerage houses, their officers, agents and representatives to violate Rule 10a of the Securities Exchange Act of 1934 by "short selling" Amazon?s stock. The defamatory and libelous acts of Defendants, each and all of them, have aided and abetted the "pump and dump" aspect of such short selling."
* "Defendants, each and all of them, have conspired and work in active concert with the aforementioned "short-sellers" and brokers, against Amazon and Amazon stock."
* "Defendants, each and all of them, have aided and abetted the unlawful attempts of the afore-referenced brokerage firms and their agents, in the manipulation of the market in a security."
* "The aforementioned acts of Defendants, each and all of them, were designed and perpetrated individually, and in concert each with the others, for the purpose of unjustly enriching Defendants or their agents and/or associates, and to destroy and manipulate the market in Amazon?s stock, in violation of 15 U.S.C. 78(o)."
* "Silicon Investors, upon information and belief, is a corporation established and existing under the laws of the State of Delaware, and at all times relevant hereto operates a service via an Internet Website which publishes to the public, information pertaining to the advisability of purchasing investment securities of specific companies, information pertaining to the financial condition of specific companies, and information, inter alia, pertaining to the quality of the products those companies offer. The consistent manner of presentation by Silicon Investor, however is in the form of an orchestrated purpose and effect of "stock bashing"."
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Basically, somebody pulled something sketchy on the message boards. It may have been illegal and unfortunately it's quite possible that some of the defendants are actually responsible for this company's horrible misfortune.
As much as they try to waive it, SI does have some legal responsibilities for what is published by its members. However, these accusations are pretty heavy and obviously misdirected. For them to be true there would have to be a humongous conspiracy against this company - when in reality it's probably just a couple of unscrupulous individuals looking for a buck.
I'd like to give that law office a call though, and tell them that they left Microsoft off the list of defendants. After all it is plain to see that Microsoft, upon information and belief, manufactured the keyboard for the purpose of facilitating, aiding, and abetting, the publication of defamatory and libelous statements to unprivileged third parties, including the general public, against Amazon stock, and against the company.
GIVE ME A BREAK.
I say .. countersue the bastards! :)
-G |
