Rock on Lew! Such a letter should give Bloomberg pause, for a number of reasons:
1. You have put him on notice that some of the "info" Steffy is about to report, and Bloomberg is about to publish, is false. To ignore your letter and publish anyway, without investigating whether the info is actually false, would probably satisfy the New York Times "constitutional malice" std for defamation (i.e. reckless disregard for whether the info is true or false). So, he kinda has to make some inquiry now.
2. You have also put Bloomberg on notice that one of his employees, Steffy, is engaging in a conspiracy to manipulate stock prices, and his news service has been a party to it. Perhaps Bloomberg could argue up until now that his participation has been unwitting, but not anymore. Again, he has to take some steps to determine whether it is true, and to correct the situation, or the SEC will become very interested, IMO.
3. You were right to recount the link between Nyal, Mason, and Loren. Suppose Steffy's article cites "unnamed sources" for the notion that BRX has no metals, the company is a scam, etc. If this is based on post-gag order gibberish spewed by the AZDOM boys, it would essentially be an attempt at an end run around the Court's injunction. I doubt if the Court could nail Steffy or Bloomberg (no personal jurisdiction, and the injunction did not extend to them anyway), but it could make things very uncomfortable for Mutt and Jeff, for talking to Steffy
Great letter.
Regards, Otter |
