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Pastimes : Investment Chat Board Lawsuits
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To: dantecristo who wrote (5306)11/14/2003 1:56:08 PM
From: ifonly1  Read Replies (2) of 12465
 
Interesting decision. I wouldn't hold out much hope for an overturn at the next level of appeal.

Looks like they really thought through the issues and contains some good discussion on the law in general.

A few elements of the decisions are prone to be misapplied (bad facts can make bad law). I found the discussion as when and where to draw the line in determining a limited-purpose public figure to be too far in the plaintiffs' favor such that it could be misinterpreted to not provide the actual malice standard/protection with respect to discussions/statements on the merits of investing in public securities (which is clearly a form of public speech and clearly a matter of interest to the general public or third parties). It would have nice to see the court make a clearer distinction between employees and executives that are not officers and directors as compared with officers that should be fair game for public discussion on a BBS discussing the merits of investment in a public company. Similarly, the discussion of the limited-purpose public figure rule as it applies to public companies appears to go too far in denying the limited-purpose public figure status to statements regarding corporations. Can one really say that discussions regarding product or service quality, ethics and reputation of a corporation are not of interest to the general public or to certain members of the general public?
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