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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (93406)	11/18/2005 7:34:38 PM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 122089

Press Release Source: Lowenstein Sandler PC Rocker Partners Responds to Overstock Press Release Friday November 18, 10:08 am ET ROSELAND, N.J., Nov. 18 /PRNewswire/ -- Gavin J. Rooney of Lowenstein Sandler PC, counsel for Rocker Partners, today responded to a press release issued by Patrick Byrne regarding the litigation filed by Overstock.com, Inc. against Rocker Partners and Gradient Analytics, Inc. "Apparently, Patrick Byrne has trouble reading," Mr. Rooney commented. "In his November 17th press release, Dr. Byrne claimed that Rocker Partners' recently filed motion under the California anti-SLAPP statute 'do[es] not deny the substance of our lawsuit.' Had Dr. Byrne read the extensive, sworn declaration submitted by David Rocker, he would see that Rocker Partners has done precisely that." Mr. Rocker's 21-page declaration attaches 25 exhibits, and documents how Gradient independently began covering Overstock with low ratings in July 2003, a full year before Rocker Partners became a Gradient client. Gradient had already assigned its lowest possible ratings to Overstock well before Rocker Partners began to establish its short position. Mr. Rocker's declaration further makes clear that Rocker Partners never asked Gradient to time its reports, that Rocker Partners paid Gradient nothing more than its standard subscription fee, and that while Rocker Partners and Gradient exchanged opinions and views on Overstock, such exchanges were no different than exchanges Rocker had with other portfolio managers and analysts researching Overstock. "If Overstock truly wished to give the public a balanced view of the lawsuit and the record," Mr. Rocker added, "then it would post my declaration and our anti-SLAPP motion on its own website, so that people could measure it against the unsubstantiated allegations of the Amended Complaint and the vague and generalized declarations already posted there." Mr. Rooney noted that California, like many states, has enacted legislation to combat SLAPP suits (i.e., strategic lawsuits against public participation) and end the misuse of the litigation process as a means to stifle the free expression of opinions. "Rocker Partners filed a well-founded motion under the anti-SLAPP statute, since Overstock's suit seeks to silence its critics and doubters in the securities market. The burden will now be on Overstock to come forward with competent evidence sufficient to demonstrate a prima facie case." Mr. Rooney further observed that it was ironic that Mr. Byrne accused Rocker Partners of filing the anti-SLAPP motion as a delay tactic, since Overstock's own attorneys immediately responded to the motion by asking the court to adjourn the motion for a month to give them more time to respond. -------------------------------------------------------------------------------- Source: Lowenstein Sandler PC biz.yahoo.com