OT: Grabbed from Stockwatch bulletines
Adanac, Molycor too touchy: Tooper
2005-05-12 15:20 ET - Street Wire
Also Street Wire (C-MOR) Molycor Gold Corp
Also Street Wire (C-SWB) Stockgroup Information Systems Inc
by Stockwatch Business Reporter
Tooper has broken his silence in the slow-moving defamation lawsuit brought by Adanac Moly Corp., Molycor Gold Corp. and Larry W. Reaugh. The plaintiffs sued in March, 2004, claiming that the then-anonymous Tooper had been posting defamatory comments posted on Adanac and Molycor's Stockhouse.ca forums. Stockgroup Media Inc. was also named as a defendant in the lawsuit, as Adanac and Molycor tried to unmask the shadowy Tooper.
In August, 2004, Adanac and Molycor obtained a court order to make Stockgroup turn over its records on Tooper, who was later revealed to be Brian G. Pontius of Montrose, B.C. Mr. Pontius filed his defence to the lawsuit in April, 2005, over a year after the lawsuit began. He claims that any information on the Bullboards cannot be viewed as defamatory, as the comments are only opinion, and need to be viewed as such.
The lawsuit
As reported in Stockwatch on March 19, 2004, the allegedly defamatory comments first started showing up on Adanac's Stockhouse forum on Feb. 4, 2004. Tooper's often misspelled rants appeared 26 times over the course of 20 days, ending on Feb. 24, 2004.
By Feb. 13, Adanac and Mr. Reaugh knew of Tooper's posts, and had Adanac's corporate secretary Teresa Piorun complain to Stockhouse about the comments. Ms. Piorun followed up her complaint on Feb. 16 by telephoning Stockgroup's Vancouver office. After much back and forth, Tooper's comments were yanked, and his posting access suspended for one week. The lawsuit claimed that Stockgroup refused to ban Tooper permanently, unless the plaintiffs could obtain a court order demanding it do just that.
After Tooper's suspension was lifted, he returned to the Adanac boards, continuing to make his allegedly defamatory comments about Adanac and Mr. Reaugh. Ms. Piorun was back on the phone to Stockgroup on Feb. 25, complaining about Tooper's new comments. By March 3, Stockgroup killed Tooper's membership privileges. Nine days later, Adanac and Molycor filed their lawsuit in the Supreme Court of British Columbia.
The lawsuit claimed Tooper seriously injured the characters, credit and reputations of the plaintiffs. The companies claimed damages and costs, for the alleged libels, against Tooper.
Orders and notices
On Aug. 25, 2004, Adanac and Molycor's lawyer, Geeta Bains, went before Mr. Justice S. James Shabbits and obtained an order to make Stockgroup hand over any information it had on Tooper. Stockgroup complied with the order, and on Feb. 8, 2005, Ms. Bains was back in court, this time seeking an order to take Tooper's name off the lawsuit and replace it with the name of Mr. Pontius. Soon afterward, Adanac and Molycor dropped their lawsuit against Stockgroup.
Pontius speaks
Mr. Pontius filed his defence on April 20, 2005. While admitting that he was indeed the mysterious Tooper, he denied that his postings on Stockhouse's forums had done any damage to Mr. Reaugh's reputation, or to the share price of either Adanac or Molycor.
A company's share price can vary on a day-to-day basis, Mr. Pontius points out, noting that Adanac's stock hovered around 60 cents on the date he filed his defence, coming off of a year high of $1.05, and dropping from 88 cents to 60 cents in two months.
Mr. Pontius goes on to state that all of his comments published on Stockhouse were within the "normal content" of any poster. Stockhouse's Bullboards carry opinions that should not be construed as defamatory comments, Mr. Pontius adds. Such comments are only published to entertain thoughts and opinions.
Mr. Pontius claims that Adanac's investor relations consultant, Michael Alexander, was a registered user of the Stockhouse Bullboards as "CrazyDiamond," and that Mr. Reaugh knew of CrazyDiamond's Bullboard activity. On Jan. 11, 2005, CrazyDiamond posted, "Larry [Reaugh] has said several times to me he would prefer I not post on Stockhouse or other boards because he feels they are a bit of a clown show with a little to (sic) much 'Bull' going on along with the boards."
According to Mr. Pontius, Mr. Alexander made several unpleasant comments about J. Rennie Blair, a director of Sur American Gold Corp., on Sur's Stockhouse Bullboard: "Comparing that pumping little liar to Larry makes my blood boil. You don't have a damned clue what you are talking about. You try and make them both the apple when one is the apple and the other is a serpent. I leave you to figure out who I believe is which." Such comments, Mr. Pontius argues, support his position that comments against other individuals, as made by Adanac's own investor relations person, are acceptable as opinion pieces and do not damage the subjects of such postings.
Mr. Pontius closes his statement of defence by referring to the disclaimer on the Stockhouse website. The disclaimer asks the user to acknowledge that any material posted on the website will not be viewed as inviting, inducing or encouraging any person to make any investment decisions.
CrazyDiamond and Mr. Alexander
CrazyDiamond's Stockhouse profile states that he is "Bullish on metals, currently enjoying an almost 350% return on last 10 picks. Pink Floyd fan and all around good guy." CrazyDiamond frequented the Adanac Stockhouse forums, often posting pro-Adanac messages several times a day, but he has not posted anything since Feb. 15, 2005. On March 3, 2005, Adanac reported that it had extended its investor relations agreement with Mr. Alexander, who was upgraded to Adanac's investor relations manager at the same time.
Adanac closed at 66 cents on May 11, 2005, while Molycor closed at 13.5 cents.
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Reader Comments - Comments are open and unmoderated, although libelous remarks may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
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So you don't wish to have somewhat express their opinion? What kind of crap is this?
Posted by bearcat @ 2005-05-12 12:36
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"According to Mr. Pontius, Mr. Alexander made several unpleasant comments about J. Rennie Blair, a director of Sur American Gold Corp., on Sur's Stockhouse Bullboard: "Comparing that pumping little liar to Larry makes my blood boil. You don't have a damned clue what you are talking about. You try and make them both the apple when one is the apple and the other is a serpent. I leave you to figure out who I believe is which." Such comments, Mr. Pontius argues, support his position that comments against other individuals, as made by Adanac's own investor relations person, are acceptable as opinion pieces and do not damage the subjects of such postings."
Too, too touching. Let's hope that Michael Alexander has a lighter touch on his keyboard when he's contributing to Stockhouse than he does when he's purportedly savaging the insiders of the companies that he purportedly represents.
Talk about a soft touch! How do I sign up for one (or three) of these lucrative jobs?
I have a bucketful of superfluous superlatives that I would be most happy to trot out in support of the purportedly maligned J Rennie Blair (or even the bloody serpent) as long as the profferred "touch" is in an impressive amount.
Alexander Michael Azure Resources Corp Alexander Michael Company Date Role Description
Azure Resources Corp 2003-11-15 Became a consultant to Co
2003-11-15 Was disclosed as holding an option on shares of Co
Alexander Michael Sur American Gold Corp Roles for Alexander Michael Company Date Role Description Sur American Gold Corp 2003-11-15 Became a consultant to Co
Alexander Michael Adanac Moly Corp Roles for Alexander Michael Company Date Role Description Adanac Moly Corp 2004-06-07 Became a consultant to Co 2004-06-07 Was disclosed as holding an option on shares of Co
Posted by halcrow @ 2005-05-12 14:36
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Depends what "normal content" means. Posters on any forum have a right to express both positive and negative views "within reason". When exactly the limits have been breached, can be debated forever. I have not read any of the offensive comments.
Adanac's price depends on moly prices and probability of getting a mine started with the proper financing. More energy directed at that direction and less gazing at the forums by management of what the public thinks about the company, would be helpful.
If I knew posting something on the forum truly influences any stock, I would be rich!
Posted by leo @ 2005-05-12 15:29
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Mr Pontius has many valid points, I believe this is a good one. "Mr. Pontius closes his statement of defence by referring to the disclaimer on the Stockhouse website. The disclaimer asks the user to acknowledge that any material posted on the website will not be viewed as inviting, inducing or encouraging any person to make any investment decisions" I have seen many strong comments on Stockhouse BB myself should all those people be disciplined ? AUA should maybe concentrate on shareholder value and not read the BB -IMHO ofcourse
Posted by Tom @ 2005-05-12 18:26
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I'm an American who often reads postings on Stockgroup. What century are you guy's living in up there, where a guy can't say what's on his mind. In America we have something I'm sure you've heard of...freedom of speech. Our forefathers knew it was so important in having a free society, that they made it the first amendment of our constitution. What are they so afraid of? That just maybe, he's telling the facts? God bless America! Where you are free to speak your mind.
Posted by Rick @ 2005-05-12 22:10
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to Rick free speech in USA, hahahah u must be joking, only on paper not in real life
God bless poor Americans who think so
Posted by tommy @ 2005-05-13 05:36
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There is free speech and then there is liable. Why not find the facts? what is written in this editorial is propably not the whole story. I dont see anywhere where the writer has mentioned the real key issue and that is What was said?.. A company does not go marching into court at a huge expense unless it was slander. IMESHO
Posted by David @ 2005-05-13 06:34
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Since when does an opinion written by a Stockwatch reporter become company news being proliferated thru Kitco news sites etc. This SH reporter does not even have the BullBoard handle of the person, Brian G. Pontius of Montrose, B.C. named in the lawsuit correct. It was "Trooper" not tooper, and his comments when read were highly slanderous and libelous. Kudos to Mr Alexander and Adanac for taking this BB basher to task. Truth about Rennie Blair by Alexander (shared by many) is one thing but slander of Adanac Pres/CEO because of a grudge against M Alexander is another. People like Brian G. Pontius of Montrose, B.C. should be held accountable for so called 'free speech' slander.
Posted by Disgusted @ 2005-05-13 08:30
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Yes mr disgusted, this report and the Stockhouse reporter should be working for national enquirer. very pathetic attempt at sensationalism. obviously very hard up for new topics to write about.
Posted by pathetic_reporting @ 2005-05-13 08:42
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some people think that the internet is some kind of a toy,were you can say whatever you want and not have to answer to anyone. People have to express opinions responsibly and fairly, and in the future we will see more litigation in the courts untill people understand this.
Posted by market watcher @ 2005-05-13 11:36
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