Just hours before the Robinhood-GameStop hearing during which Keith Gill (aka DeepFuckingValue aka Roaring Kitty) was questioned and had to give testimony, a law firm went public that they will hit him with a securities-fraud lawsuit.
Apparently their client went to the party when the music had already stopped and lost a ton of money.
Living in the US this does of course not imply that you accept your loss, think about your mistakes and carry on. Instead it does mean that you are looking for somebody else to blame and sue for your losses.
The foundation of their claim seems to be the fact, that Keith was a former investment professional and because he did not put a disclaimer under his posts saying: "I am a former investment professional that used to work in the financial industry and therefor if you read my posts you are in a absolute danger that your brain malfunctions, your IQ halves and you will make investment decisions that are completely Harakiri."
And in legal teams not stating this disclaimer seems to be the equivalent of "SUE ME!!!"
So yes.. we might all agree that this is completely ridiculous but this happens in a country where a manufacturer of a microwave ovens was successfully sued over not highlighting that you should not dry your pet in that exact microwave oven. So you never know about the outcome and even if courts decide to rule with some common sense and dismiss the case, at least the guy will encounter high legal bills and many wasted days.
OK.. apparently he can afford this atm.. ;-)
.. but this will lead to some raised eye brows @ whomever writes or comments about finance and investments.. especially as strong financial regulation and suing for compensation or restitution are getting common around the world...
So the only safe thing is not to give any lawyer any reason to sue you... .. aka: to employ your own lawyer that cross reads all your posts and puts 10 disclaimers at the top and bottom...
or...
you give the lawyer no possibility to sue you as you post anonymous without any possibility to trace the post back to you...
and where is the only place you can do this but at the same time you still have your audience and could be found by search engines?
Yeah right: Its HIVE and LEOFINANCE...
so at the end I believe there is a pretty good chance the reddit guys and girls will move over... and then its not to the Moon but to Mars... ;-)
Posted Using LeoFinance Beta