Recap, for the two of you* out there who care about the AntiSocialMedia.net/Overstock.com made-for-TV movie-of-the-week: AntiSocialMedia.Net was the website hosting what the Post described as "bitter attacks … on the message board critics, accusing them of participating to various degrees in a conspiracy to malign the anti-naked short selling movement that Overstock.com supports," and ASM was doing this because, ding, ding, ding, it was being anonymously run by Overstock.com’s director of social media Judd Bagley. Gary Weiss sunk his teeth into this story some time ago and has been going at it like a rabid dog who may or may not have rabies ever since (and that's not necessarily a bad thing). Anywho, the latest news is that under the pseudonym of De Daumier-Smith, Judd Bagley has been up to his usual bag of tricks.
Overstock.com must be worth over a hundred bucks a share! That's because -- according to an officer of the the company -- its lawsuit against Wall Street firms is definitely going to succeed, and all that needs to be done now is tote up the damages.
This suit is for $3.5 billion, so that is one heck of an optimistic forward-looking statement, wouldn't you say?
The source of this very valuable market-sensitive insight is none other than Overstock's stalker-in-residence, "director of social media" Judd Bagley, in a post on the Investor Village message board over the weekend.
You know, I think it is really terrific that an officer of a public company, unencumbered by legal restraints, comes on a limited circulation message board to predict -- indeed, declare! -- the outcome of a lawsuit just filed by his company.
Of course, if there was some kind of regulation about "fair disclosure" or rules about "materially misleading statements" I guess there might be a problem. A serious one.
*Actually that's unfair of us-- the ten of you.
Bulletin: Overstock Lawsuit Successful! [gary-weiss .com]