Yogi,
It's not even that...the bare facts (I followed the ELN board actively and am quite familiar with the situation) are that this analyst made a series of horrific calls on ELN...all of which bombed. This stock has gone from 22 to 50 in the last 6 months...guess who kept bashing the stock all the way up? Each time he bashed the stock, the Yahoo board posters laughed at the guy and pointed out how wrong he had been on the stock. These people got sued for calling it like it was. Boo-hoo and pass the Kleenex, the analyst got his feelings hurt when people called him a schmuck. If the shoe fits, WEAR IT. If you've made a series of horrific calls on a stock, OWN UP TO IT, don't sue the people who are just stating the obvious.
Believe me when I tell you, there were no blatantly derogaratory statements made against this guy. No one said "I have photos of him having sex with a goat," or anything like that. The guy bent over backwards to bash the stock at each and every opportunity, and when the stock went up, people scoffed at him and questioned his motives. And for that, they are being sued.
Memo to CNBC: when doing the "Penguin" segment, make sure you don't in any way offend CSFB, as they just might sue you if you hurt their analysts' feelings.
I have contributed a small amount to the so-called "Elan Eleven" Defense Fund, and I urge everyone who has ever scoffed at an analyst's arrogance over a lousy call to do the same:
Elan Eleven Defense Fund
4400 MacArthur Blvd, NW
Suite 200
Washington, DC 20007-2521 |
