@Atachetatuque IT IS DONE
Published in "La Presse" this morning
The courts on Tuesday granted the CEO of PyroGenesis Canada the tool he needed to identify the authors of negative messages posted about the Montreal company on a popular discussion forum.
The big boss of , PyroGenesis Peter Pascali, was asking the Superior Court of Quebec to issue a Norwich-style 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.
The authorization was granted on Tuesday after a hearing held in the morning.
PyroGenesis 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-necktie 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 PyroGenesis and Peter Pascali are hiring people solely for the purpose of manipulating investors with a reference to “paid pumpers”.
PyroGenesis management asked Stockhouse in May to remove posts it deems untrue and provide information (names, emails, IP addresses, etc.) 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 'sipping investors' money', and forum posts 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 PyroGenesis, it is "more vague" to know who is ultimately behind the messages on Stockhouse.Based in Griffintown, PyroGenesis 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 below $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 about 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. PyroGenesis ranked ninth in the rankings with a return of over 350% over three years.
PyroGenesis last month disclosed revenue of 5.8 million and declared a loss for the second quarter of its fiscal year. The main shareholder of the company is Peter Pascali with an approximate stake of 47%. It was not possible to speak to him on Tuesday.