Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

MJNA: Seeking Alpha Writers Litigation Is Misguided

|Includes: Medical Marijuana, Inc. (MJNA)

MJNA has issued a press release. I want to address several of the aspects. There is one key line (in the conclusion) that I think they should re-read:

"Instead we will let our actions, products and revenue speak for themselves. The only way to combat these individuals is with success."

This follows this:


I am aware that there are those who feel that litigation should have been commenced by now against Seeking Alpha blog writers that have published numerous negative articles attacking the Company and its management. Some have suggested that our failure to do so is negative reflection on MJNA. I have personally met with litigation counsel to go over the defamatory statements that were presented by Seeking Alpha writers in several of the article(s). The case is clearly laid out. However, it is also more complex than just pursuing defamation claims against a writer and a website as some have stated. The article(s) were blatant attempts, albeit briefly successful, to manipulate our stock price, to damage our shareholders and to create fear and doubt about our credibility. The actions from this group of individuals commenced by the parties posting numerous positive articles about MJNA all while knowing these same individuals would then collectively post those defamatory article(s) right before our quarter financial posting to significantly drop the stock value for nothing more than their personal gain. MJNA had no part of these actions, did not authorize, benefit, participate or have knowledge of what was being written.

These individuals perform the same actions each quarter and shamefully boasted about their success. Our litigation attorneys are gathering relevant information, will assess the possible claims against all responsible individuals. The Company will move forward based upon the advice and conclusions of our legal counsel.

All we can ask of our shareholders is that you perform your own due diligence to find out the complete facts versus reacting to postings by individuals who are obviously manipulating the stock value for dubious reasons.

I don't know if they consider me among those making "defamatory statements", but I would point out that they corroborated my view of how they booked the first installment of CANV stock. I have not received a single request for a correction to anything that I have written and encourage the lawyers or company representatives to point out any material misstatements I have made. I also want to point out that I post with my real name and have no relationship whatsoever with Infitialis. I have communicated with Ashraf Eassa, but I have never colluded with him in any way, and he, like me, posts with his real name. We are both leading contributors to Seeking Alpha and share a common view about the lack of transparency at MJNA and its lack of value as an investment, which we have shared as our opinions. Further, I have no stake in MJNA. My motivations have been clearly and completely disclosed.

MJNA is not telling the truth at all when it discusses conspiracy of Seeking Alpha publishing positive and then negative articles. I am easily found by email, address or even phone number, and I encourage anyone to contact me if there is any doubt on this matter. I especially encourage the company to contact me, as I would like to know specifically which statements I have made are not true. I will immediately correct any misstatements or factual errors.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.