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To: Gator who wrote (2063)3/9/1999 10:53:00 PM
From: Doug (Htfd,CT)  Read Replies (1) of 8858
 
Gator, there is a long reach from slander to stating a negative opinion about a stock. In the case you pointed to (not the first of its kind in recent weeks), a slander suit was filed because of posts "claiming the company's founder * * * had been arrested for accepting kickbacks"

As any lawyer will tell you, unless this is true, it is probably slander per se, and probably actionable. If you can find and serve the speaker with process. The newsy part of the Yahoo story was not the ability to go after slander, which is centuries old, but the fact that the alleged victim was able to track down posters who may have thought themselves immune because they were using pseudonyms, and serve them with process.

A false accusation that someone was arrested for commercial bribery is not the same situation as someone expressing a negative view on a stock, or saying it is overhyped or even a "pump and dump" ... none of the latter are likely to qualify as slander, even if untrue. If not slander, they are not likely to be actionable in most jurisdictions following the English legal traditions, where the right of free speech gives one a lot of room, even for error, without being subject to legal action.

Subject of course, to the SEC rules, which have special cubbyholes for "commercial speech" by those compensated to recommend the purchase or sale of stocks.

Doug
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