Found the following info on libel suite over statements made on the internet. Just a reminder for all to be careful, IMO, nothing stated is a recommendation to buy or sell or in anyway relevant to anything, use at your own discretion.
"AMERICAN ECO CORPORATION announced today that it had been awarded US$500,000 in punitive damages and US$75,000 in direct damages in its lawsuit against an individual who hid behind an Internet posting alias as ''PMKK1''. The judgment in favor of American Eco was for libel and slander through false Web and bulletin board postings about the Company and its executives. American Eco claimed that the falsehoods circulated on the Internet had damaged its reputation with the investment community and caused investors to short its publicly traded shares by creating doubt about statements made by American Eco management.
In addition, Mr. David Norris, former CFO of American Eco, was awarded $5.0 million in punitive and $2.75 million in direct damages in the same lawsuit against the individual operating under the alias of ''PMKK1'', for untrue allegations concerning Mr. Norris' executive history, which were posted on the Internet, resulting in his suspension from his position"
Dave M
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