Theodore, agree that it is an emergent area of law and that any defense could be expensive.
However, and again I'm not a lawyer, if Pluvia either launches the first strike with his own suit or responds to any civil suit with a countersuit and takes it to trial and wins (all very iffy), I'm under the impression that it's the losers nickel when it come to legal costs. IMHO, a countersuit is a no-brainer and I'd find it hard to believe that PLSIA's counsel doesn't realize that.
For all the parties involved there are risks. I'm assuming that if it comes down to PLSIA v. Pluvia (or vice versa) neither side wants a knock-down drag-out fight. That's what settlement conferences are for.
If it's Pluvia v. Westergaard - totally different story <g>
For the sake of argument, assume Pluvia is in the right. I don't know what the compensatory damages for Pluvia could be, but if I'm eyeing the case up I'm thinking I can make a very persuasive argument to a jury when it comes to seeking punitive damages on behalf of Pluvia against any and all defendants. I don't know what the relation of punitive to compensatory damages would be, if I'm doing closing argument, I'm arguing that it is imcubent upon them to send a message.
John Westergaard is the best thing Pluvia has going for him when it comes to litigation. Although PLSIA will probably argue he is not "an agent", IMHO, a good attorney would find a way to make him part of any action against PLSIA and given what I've seen out of Westergaard, IMHO it would be surprising if Pluvia isn't able to make Westergaard say "uncle" in a separate case. Pluvia's lawyer will probably attempt to "pierce the corporate veil" and go after Westergaard's personal assets. Not saying it will be successful, but it seems one possible route in any lititgation. I would assume that any such attempt will be bolstered by fact that John Westergaard came onto SI and became a member. I would assume the attorney would argue that in doing so, he came on as a private individual and take it from there.
And again I ask - how could JW's counsel allow that to have happened?
Good trading,
Tom |
