Courts grant PYR CEO to identify authors of negative postsWow Christmas came early. Since this was applied back in the spring, adding more bashers to this order wish list ...Midtown and Mgt must have eyes here. Magnficient and wonderful.
https://www.lapresse.ca/affaires/2022-09-21/un-pdg-de-quebec-inc-veut-identifier-des-trolls.php Googl translate into English from French
The courts on Tuesday granted the CEO of PyroGense the tool he needed to identify the authors of negative messages published about the Montreal company on a popular discussion forum.
Posted yesterday at 6:00 a.m.
RICHARD DUFOURTHE PRESS The big boss of PyroGense, Peter Pascali, was asking the Superior Court of Quebec to issue a Norwich-type order to get the Stockhouse site to provide him with information about people who hide behind pseudonyms to discredit him and him. business he runs.
Authorization was granted Tuesday after a hearing held in the morning.
PyroGense has been the target since the beginning of the year of allegations that it considers defamatory from forum users presenting themselves under the pseudonyms Dividends, Zaphod, NoRetire, EtheGreat and Breizh1.
A message was notably capped with the mention “Wolf of Wall Street”, indicates a legal document.
Fraud charges
The author of this message claimed that PyroGenesis had no value, and that the company reminded him of the penny stock foamed by ex-tie bandit Jordan Belfort (played by Leonardo DiCaprio in the film The Wolf of Wall Street ) when the business associated with this penny stock was in effect a shed at the back of a backyard.
In a post in the spring, a Stockhouse user affected by the query wonders if the stock is a fraud.
Also according to a motion filed in court, another message published in the spring suggests that PyroGense and Peter Pascali hire people solely for the purpose of manipulating investors with a reference to “ paid pumpers ”.
The management of PyroGense asked Stockhouse in May to withdraw the messages which it considers untruthful and to provide information (names, emails, IP addresses, etc.) making it possible to identify their authors.
Stockhouse responded in June that a court order was needed to reveal the identity of the perpetrators.
PyroGenesis management argues that allegations posted about Stockhouse cause it harm, suggest the company is 'siphoning money from investors', and that forum postings undermine shareholder confidence and could even cause losses financial.
While hedge funds , for example Muddy Waters and Greenlight Capital, sometimes use "aggressive tactics", Concordia University professor and governance expert Michel Magnan believes that in the case of PyroGense, it is "fuzzier" to know who is ultimately behind the messages on Stockhouse.
Based in Griffintown, PyroGense presents itself as a technology company that develops and markets industrial plasma processes. Its shares are listed on the Toronto Stock Exchange and NASDAQ.
The company's title migrated from the TSX Venture Exchange to the Toronto Stock Exchange at the end of 2020.
350% over three years
PyroGenesis stock went from being worth less than $1 in 2020 to over $12 last year before falling back to its current price of just under $2. At this level, the market gives a value of approximately 325 million to the company.
TMX Group released last week its "TSX 30", a list of companies listed on the Toronto Stock Exchange with the best stock market performance over three years. PyroGense came ninth in the ranking with a return of more than 350% over three years.
PyroGenesis announced last month revenues of 5.8 million and declared a loss for the second quarter of its fiscal year. The company's main shareholder is Peter Pascali with an approximate 47% stake. It was not possible to speak to him on Tuesday.
Determining the perpetrators is just one of several potential steps we are taking, which may or may not include legal action against them or others, management said via email.