On 8/16/12 the New York Supreme Court’s Honorable Justice Carol R. Edmead dismissed Silvercorp Metals’ (NYSE: SVM) defamation lawsuit brought against numerous parties including myself. Justice Edmead found that my blog posts on Silvercorp were an expression of my opinion of the company and protected by my First Amendment right of free speech (the full text of her ruling can be found here). I applaud this decision that protects my rights and assures investors will continue to hear alternate viewpoints from bloggers who might otherwise be afraid to express negative opinions due to the threat of legal retaliation.
Over the past two and a half years I have publicly shared signs and evidence of fraud or questionable practices of over a dozen U.S. listed Chinese companies. I publicly accused seven companies of defrauding their investors. All seven have either been delisted or halted by the various stock exchanges where they traded. The SEC charged three of the companies and/or their management with fraud. My complete track record of all my reports can be found (here).
Three companies: Deer Consumer Products (NASDAQ: DEER), Sino Clean Energy (NASDAQ: SCEI) and Silvercorp Metals (NYSE: SVM) were the focus of Alfredlittle.com’s continued mission (announced 12/19/11) to expose fraud, corruption, and other crimes by managements who utilize threats, false arrests, violent force, kidnappings, corruption of foreign officials and abuse of the legal system to silence their critics and deprive them of their right of free speech and expression of their investment opinions. In addition to Justice Edmead’s dismissal of Silvercorp’s defamation lawsuit, I am very pleased to see that NASDAQ halted trading in DEER on 8/13/12 and announced its intent to delist SCEI on 8/7/12.
My efforts are now focused on Silvercorp. I plan to publish a new report later this week.