Mark Moran

Suing Critical Analysts Is Wrong and Dangerous

The most famous case of a company head threatening to sue an analyst was Donald Trump's juvenile bomb tossed at Janney's Marvin Roffman for saying the Taj Mahal would be unable to service its debt. Roffman got fired, but won big settlements from both Janney and Trump and was completely vindicated when the Taj went bankrupt a few years later. Then we had Qwest's Nacchio publicly berating analysts for accusing Qwest of accounting fraud, a few years before Nacchio's conviction. And of course the infamous Biovail case, where the company claimed to have lost sales due to the crash of a truck that could not possibly have accounted for the shortfall claimed. Why is BBX eager to join this list ?

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