Lion Energy wins order against Stockhouse poster
2009-12-14 14:32 ET - Street Wire
by Mike Caswell
Lion Energy Corp. has secured a court order against Stockhouse Publishing Ltd., directing it to reveal the IP address of a bulletin board poster named CashEagle. Lion said that CashEagle authored a series of defamatory posts about the company, calling management a "group of clowns" who earn exaggerated salaries, among other things.
The order, obtained on Dec. 10, 2009, in the Supreme Court of British Columbia, directs Stockhouse to reveal the e-mail address, IP address or any other information that could identify CashEagle. The judge also instructed Lion Energy to pay any reasonable costs that Stockhouse incurs in retrieving and delivering the information.
Lion Energy's petition
Lion Energy secured the order one day after it filed a petition at the Vancouver courthouse against Stockhouse. The petition stated that Lion had asked Stockhouse to disclose any information to help identify CashEagle in November, 2009. Stockhouse's senior editor, Keri Korteling, replied that Stockhouse would not provide any such information without a court order.
The petition contains quotes from many of CashEagle's posts, which began on Oct. 22, 2008, and ended on Nov. 17, 2009. Lion Energy claims that they are defamatory of both the company and its chief executive officer, Brian Thurston. One, dated April 20, 2009, stated, "That does not encourage me to put my trust and money with these guys ... sometimes its better to have crooks in this rather than IDIOTS." Another the same day claimed that Mr. Thurston had acquired a property formerly owned by Bre-X Minerals Ltd., and stated, "This further speaks to the true genius of Thurston who has taken a small time Potash player into the big leagues by securing the rights to this 'elephant' gold deposit."
Further messages were directed at Mr. Thurston. One, dated May 8, 2009, said Mr. Thurston was simply concerned with collecting a pay cheque. It continued, stating, "Trusting Thurston has resulted in this companies cash position to go from $28M last summer to $21M now with nothing to show for it ... except some big payments to managements and certain consultants." Another on May 15, 2009, said, "I wish these f00kers would do their jobs and something meaningful for the stock price."
According to the petition, the final post came on Nov. 17, 2009, when CashEagle wrote that Mr. Thurston "was approached by a pretty blonde in a tight skirt and tall boots" who "educated Mr. Thurston on the amazing profits to be made in the pharmaceutical industry," and as a result, Lion Energy "will be changing its name to DimeBag Pharmaceuticals."
The petition was filed on Lion Energy's behalf by Daniel Reid of Harper Grey LLP.