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

To: Buckey who wrote (12414)	12/15/2022 9:31:29 PM
From: Jeffrey S. Mitchell	1 Recommendation Recommended By Zen Dollar Round Read Replies (4) \| Respond to of 12465

These suits have massive implications in society at large IMHO. Ask kids these days what they consider their careers, and many will say "influencer". Heaven forbid you promote something that turns out to be a scam, then on the witness stand in a lawsuit you try to explain away how that label is just for show-- that you merely lend your name to whoever wants to pay you to playact to your many followers, no different than a movie star or famous athlete. As you really can't fully prove intention or perhaps even involvement, you really need to go on disclosure. As we know from stock promoters, if they disclose they got paid in stock, that they may be dumping these shares at any time, and that everything they are telling you was given to them with zero vetting on their part, then all good I suppose. Absent that, do you hold a so-called expert investor in Kevin O'Leary to a higher standard than an NFL QB in Tom Brady? Or do you instead evaluate each person based strictly on their own proclaimed level of due diligence and/or expertise? And even if we can figure out some sort of test for what constitutes culpability, is "Hey, I was also scammed" a get out of jail free card? Can you prove the assertion "they should have known better"? Or perhaps even "I can excuse them being scammed, but I can't excuse them for not even attempting to do their own reasonable due diligence... which makes them clearly negligent"? It's going to take many years for these lawsuits and their derivatives to finally establish a reasonable body of case law. Here we are, what, 26+ years since watching these sorts of laws evolve to what they are today... yet we still have so many unanswered questions about how and where to draw a legal line of what does and does not make someone culpable for promoting the modern equivalent of ages old snake oil. - Jeff