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Pastimes : Investment Chat Board Lawsuits
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To: Jeffrey S. Mitchell who wrote (1292)3/30/2001 3:22:12 PM
From: StockDung  Read Replies (1) of 12465
 
RE:CIO-- Judge Dismisses Libel Suit Against Bloomberg L.P. --

>>>>>>Judge Dismisses Libel Suit Against Bloomberg L.P.

SALT LAKE CITY, March 30 /PRNewswire/ -- Judge Dale A. Kimball of the
United States District Court for the District of Utah has dismissed in its
entirety a libel lawsuit filed against Bloomberg L.P. by Computerized Thermal
Imaging. The suit alleged that Bloomberg News Reporter David Evans libeled
the company in two stories from last summer that detailed the company's stock
sale. Computerized Thermal Imaging sought over $100 million in damages.
The court ruled that the statements were not libelous per se and did not
meet the special damages requirement to be libel per quod. For a finding of
libel per quod, the plaintiff must prove special damages. Computerized Thermal
Imaging argued that the drop in stock price that coincided with the stories
being published lowered the company's market capitalization and potential
business deals. However, Judge Kimball ruled that a drop in market
capitalization and alleged loss of future and potential business deals is not
specific and concrete enough to show special damages.

SOURCE Bloomberg L.P.

/CONTACT: Edward Skyler of Bloomberg L.P., 212-893-3981,eskyler@bloomberg.net/

/Web site: bloomberg.com
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