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Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey S. Mitchell who wrote (1385)	8/21/2001 12:38:43 PM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 12465

Re: 8/21/01 - [HITT] Court awards Bloomberg "from $10,000 to $150,000" compensation for HITT SLAPP suit Libel Action. On April 27, 2000 the Registrant filed a Complaint for Libel in the Superior Court of the State of California for the County of Los Angeles, Case No. BC 228991 against Bloomberg, L.P. ("Bloomberg") a Delaware limited partnership, and David Evans ("Evans"), a reporter with Bloomberg's news service, Bloomberg News. The lawsuit alleges that Bloomberg and Evans, through Bloomberg News, published a series of defamatory articles on May 11 and May 12, 1999, which contained certain false and defamatory statements regarding the Registrant. As a result of the publication of the articles, the Complaint alleges, the price of the Registrant's stock dropped about 53% in one day. The Complaint seeks damages against Bloomberg and Evans in excess of $500,000,000. In July 2000, the Superior Court of the State of California for the County of Los Angeles ("the Court") denied Bloomberg's first Motion to Strike, holding that Bloomberg and Evans failed to meet their burden of proof of showing the application of California's "anti-SLAPP" statute. On October 22, 2000, after giving the defendants a second opportunity to present evidence, the Court granted the defendants a "renewed" special motion to strike, brought pursuant to the "anti-SLAPP" statute and dismissed the Registrant's Complaint for Libel. The Court also awarded the defendants attorney's fees in an amount to be determined at a future date after an evidentiary hearing. In a hearing on August 8, 2001, the Court ruled that Bloomberg's recovery was limited to fees and expenses incurred in the second motion on summary judgment. The Registrant expects that the final award will range from $10,000 to $150,000. tenkwizard.com