Hello ktomlinson-ga,
“American Eco Corp. v. John Doe (noted in American Eco Wins Libel Suit
Against Internet Critic, Nat'l Post, Dec. 15, 1998, (..) American Eco
and its Executives Awarded $8.3 Million from Internet Libel Suit, Dec.
14, 1998.”
Cyber Securities Law
http://www.cybersecuritieslaw.com/oldsite/corporate_cybersmear_cases.htm
“..a Texas judge last year ordered a California man to pay an $8.3
million default judgment for posting anonymous barbs on a Yahoo
message board about American Eco, a Texas-based conglomerate.”
Silicon Investor: Stock Talk
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=12163860
The rookie Day Trader gives a more in depth description of the case:
“AMERICAN ECO CORPORATION announced today that it had been awarded
US$500,000 in punitive damages and US$75,000 in direct damages in its
lawsuit against an individual who hid behind an Internet posting alias
as ``PMKK1''. The judgment in favor of American Eco was for libel and
slander through false Web and bulletin board postings about the
Company and its executives. American Eco claimed that the falsehoods
circulated on the Internet had damaged its reputation with the
investment community and caused investors to short its publicly traded
shares by creating doubt about statements made by American Eco
management.
In addition, Mr. David Norris, former CFO of American Eco, was awarded
$5.0 million in punitive and $2.75 million in direct damages in the
same lawsuit against the individual operating under the alias of
``PMKK1'', for untrue allegations concerning Mr. Norris' executive
history, which were posted on the Internet, resulting in his
suspension from his position.
American Eco, Chairman & CEO Michael E. McGinnis, stated, ``American
Eco will vigorously pursue untrue statements, rumors and attacks on
its executives on the Internet, and intends to enforce this judgment
within the full extent of collection. The Company intends to continue
to take action against other individuals who use the Internet to post
anonymous and false statements.''
Rookie day Trader: Canadian Corporate News
http://www.rookiedaytrader.com/CCN_liable.htm
If you feel that this information has answered your question please
let me know in order to post it as the official answer.
Thanks
—Bobbie7-ga |
