Thursday, August 20, 2009

Southern District of New York Dismisses Defamation Case Against Stock Analysts

As reported by Reuters here, a New York Federal Judge dismissed a case filed by a former chief executive of Cyberonics Inc for alleged defamation over analysts comments about stock. The case is: Cummins v. SunTrust Capital Markets Inc et al, U.S. District Court, Southern District of New York (Manhattan), No. 07-4633.

The court held that the statements made by two analysts at SunTrust Bank's capital markets unit were protected. Reuters reports that "U.S. District Judge John Koeltl wrote in an 81-page opinion" wherein he states: "The core facts about the June 15 options were indisputably true and the authors' conclusions were protected statements of opinion based on disclosed facts."


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