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Pastimes : Investment Chat Board Lawsuits

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To: rrufff who wrote (6051)	5/27/2004 1:58:02 PM
From: Janice Shell	Read Replies (2) of 12465

what has been the trend the past few years with respect to litigation involving posters? I'd say that 2000 marked the peak of "basher suit" filings. Since then, most of these actions have been directed at disgruntled employees or ex-employees revealing information protected by non-disclosure agreements. Has it gotten easier to sue? It's always easy to sue. But I think at the beginning, companies thought winning--or at least shutting dissenters up by offering to settle--would be a slam dunk. Initially some "bashers" were frightened, and took the bait. But others quickly realized that if you have homeowner's insurance you won't have to pay for your defense, and also that defending against these actions is relatively easy. If you put up any kind of fight at all, usually the suit gets dismissed. I think as well that the more disreputable companies bringing actions belatedly realized that their suits tended to draw attention to the fact that the "bashers" were right. The two companies that sued me (and others) were later investigated and sued by the SEC. Are message boards reluctant to give up names? They're far more reluctant than they were a few years ago. SI refuses to honor any subpoena unless the issuer has gone to court and obtained a specific order from a judge. In Washington, SI's home state, that's pretty hard to get, so most potential plaintiffs give up at that point. RB used to knuckle under immediately, but the GECC thing was so ridiculous, and GECC "management" harassed RB so relentlessly, that they changed their policy and now usually refuse to honor paper unless forced to do so by a judge. I'm not sure what IHub's policy is. All three boards are willing to discuss the matter with members named, and give them as much time as possible to file a motion to quash.

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