JEast Posted September 6, 2018 Share Posted September 6, 2018 January, 20th 2003 — Morgan Keegan & Company put out a fake report that FFH was bankrupt and the stock price tanked in the morning to around CAD$50 briefly. Others joined in for the next few years until around 2006 when a lawsuit was brought forward against all. Morgan Keegan & Company finally admit their guilt over fifteen years later. https://www.fairfax.ca/news/press-releases/press-release-details/2018/Fairfax-Settles-Lawsuit-With-Morgan-Keegan/default.aspx Many of us knew this was a hit job and especially when about three days later after the report release the analyst revised his story and said he had a typo of just a few billion (if memory serves). Link to comment Share on other sites More sharing options...
bizaro86 Posted September 6, 2018 Share Posted September 6, 2018 Did they actually admit guilt? That would surprise me, and isn't implied by them agreeing to pay. Link to comment Share on other sites More sharing options...
JEast Posted September 6, 2018 Author Share Posted September 6, 2018 In non-legal speak, the defendant usually pays for the privilege to not have to admit guilt. Link to comment Share on other sites More sharing options...
Guest longinvestor Posted September 6, 2018 Share Posted September 6, 2018 January, 20th 2003 — Morgan Keegan & Company put out a fake report that FFH was bankrupt and the stock price tanked in the morning to around CAD$50 briefly. Others joined in for the next few years until around 2006 when a lawsuit was brought forward against all. Morgan Keegan & Company finally admit their guilt over fifteen years later. https://www.fairfax.ca/news/press-releases/press-release-details/2018/Fairfax-Settles-Lawsuit-With-Morgan-Keegan/default.aspx Many of us knew this was a hit job and especially when about three days later after the report release the analyst revised his story and said he had a typo of just a few billion (if memory serves). 15 years is a long time indeed. Those were nervous times but several around here cleaned up between then and 2009. Thanks to the malfeasance. Link to comment Share on other sites More sharing options...
wondering Posted October 16, 2018 Share Posted October 16, 2018 Related to these lawsuits https://www.fairfax.ca/news/press-releases/press-release-details/2018/Damages-Awarded-in-Lawsuit-Against-Exis-Adam-Sender-and-Andrew-Heller/default.aspx Link to comment Share on other sites More sharing options...
StubbleJumper Posted October 16, 2018 Share Posted October 16, 2018 Related to these lawsuits https://www.fairfax.ca/news/press-releases/press-release-details/2018/Damages-Awarded-in-Lawsuit-Against-Exis-Adam-Sender-and-Andrew-Heller/default.aspx Well, at least FFH won. The money is bugger-all and, even if it's actually collectible (that's a big if), it probably doesn't even come close to covering FFH's cumulative legal expenses. But, at least it silenced the short-and-distort crowd. SJ Link to comment Share on other sites More sharing options...
Parsad Posted October 16, 2018 Share Posted October 16, 2018 Related to these lawsuits https://www.fairfax.ca/news/press-releases/press-release-details/2018/Damages-Awarded-in-Lawsuit-Against-Exis-Adam-Sender-and-Andrew-Heller/default.aspx Well, at least FFH won. The money is bugger-all and, even if it's actually collectible (that's a big if), it probably doesn't even come close to covering FFH's cumulative legal expenses. But, at least it silenced the short-and-distort crowd. SJ On a cost-return basis it may not have been attractive. In terms of getting some of these miscreants to pay and having our day in court...it was worth it! That being said, some didn't really get their just desserts...Cohen, Loeb, Herb Greenberg, Peter Eavis, John Hempton, etc. Cheers! Link to comment Share on other sites More sharing options...
Grenville Posted October 16, 2018 Share Posted October 16, 2018 Glad to see Fairfax continue the litigation. Link to comment Share on other sites More sharing options...
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