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

To: Mighty_Mezz who wrote (3930)	11/17/2002 12:53:11 AM
From: Mighty_Mezz	Respond to of 12465

The company that has been salvaging the Titanic shipwreck must pay legal fees and sanctions for suing stockholders who criticized the company on the Internet, a New York judge ruled Tuesday. Judge Diane A. Lebedeff ruled that R.M.S. Titanic Inc. knew its defamation case would fail but filed it anyway to intimidate dissident stockholders. pilotonline.com

To: Mighty_Mezz who wrote (3930)	11/17/2002 4:09:33 AM
From: Bill Ulrich	Read Replies (1) \| Respond to of 12465

Notice, between the lines, that they're not actually penalizing the crims, despite the egregious case outlined in the article you linked. They're stopping business and suggesting that maybe the the gains should be re-payed. No penalty for actually committing the crime. And, with regards to the gains repayment, the "Hey, we're broke 'cuz we spent all the money," clause will be in effect. I'd like to say this is treated as "financial jaywalking" — but even jaywalkers have to pay a fine. Yet another nifty SEC success!