]Australian Shareholder Centre clients 'losing their hard earned'
The Australian Shareholder Centre markets itself as "A complete source for all sharemarket needs".
It really ought to be "A complete solution for losing your savings quickly".
...
Since that introduction, a number of victims have touched base. Their stories are too numerous to detail in this space, and many have been told on Aussie Stock Forums (ASF).
Alas, ASF is now fighting a defamation action from the Centre in the Queensland Supreme Court.
"Their business model is almost the same in every instance," said a contact from ASF.
"Hire professional telemarketers to cold-call those who don't have a clue about the market, charge an up-front fee, then sign them up with an affiliated broker and take a big cut of the brokerage on each trade."
Aussie Stock Forums (ASF) is an online venue for chatting about the sharemarket. It is also where victims share their tales of woe.
It is an indictment on free speech in this country, and on the defamation laws that people can be prosecuted for venting their frustrations and warning others about boiler rooms.
Read more: http://www.canberratimes.com.au/bus...-challenge-20150906-gjg9nr.html#ixzz3l21yBOlq
It seems truly ridiculous that a stock market forum could be sued for the comments made by people simply posting on that forum. Same with any forum on any subject.
The overwhelming majority of forum posters are anonymous, there is only one member of ASF whose true identity I have worked out via their posts, and there is no "official" status to a privately owned online discussion, its participants or their comments. ASF, and practically everything online, is just the unverified opinions of those choosing to comment.
Something I've learned over the years is that those with nothing to hide don't fear someone making comments about them whether true or not. That goes for pretty much everything. A public grilling is nothing to fear if you have nothing to hide.
Suing a public forum over anonymous comments by the public? Now I've heard everything.
Going to the highest bidder, do I hear a starting bid of $ for meta data? Great business opportunity for the ISPs
Suing a public forum over anonymous comments by the public? Now I've heard everything.
Account Name: ASF Legal Defence Fund
BSB: 638-010
Account Number: 10787054
Might pay you to read up on the law as it applies to online communications then. Its something admins and mods need to be well aware of and understand their vicarious liability.
In general the claim against ASF would be likely to be unsuccessful if it can be deonstrated the comments were true, so the headline of the thread is a little misleading. (as is the poorly written article, quoted.)
Might pay you to read up on the law as it applies to online communications then. Its something admins and mods need to be well aware of and understand their vicarious liability.
In general the claim against ASF would be likely to be unsuccessful if it can be deonstrated the comments were true, so the headline of the thread is a little misleading. (as is the poorly written article, quoted.)
Joe
Stick that account number up again.
Happy to help out mate.
Thanks Tech. Much appreciated. The details are:
Account Name: ASF Legal Defence Fund
BSB: 638-010
Account Number: 10787054
I'd like to take a moment to thank those who have donated so far. I would like to make particular mention of one person, who I'll refer to as JC, who donated a particularly large amount. Thank you all for helping to protect free speech here at ASF. I am very grateful for your support.
he Australian Shareholder Centre markets itself as "A complete source for all sharemarket needs".
It really ought to be "A complete solution for losing your savings quickly".
We had the pleasure of stumbling on the Australian Shareholder Centre (ASC) while tapping "Australian Shareholders" into Google. We were searching for the Australian Shareholders' Association (ASA), a bona fide, decent organisation whose purpose is to defend the rights of smaller shareholders.
Read more: http://www.smh.com.au/business/mark...-challenge-20150906-gjg9nr.html#ixzz3lNun6Smc
Follow us: @smh on Twitter | sydneymorningherald on Facebook
We soon realised how we had been so fortuitously selected for this unique opportunity. Only a few hours earlier we had googled ''Australian shareholders'' to find out what the Australian Shareholders' Association had to say about Westfield's latest highfalutin paper shuffle.
Incidentally, transaction costs on the big merger-demerger tote up to $1.47 billion. There is a spend of $150 million on lawyers, merchant bankers and soi-disant ''independent experts''; an outlay that has effectively bought the opinions of UBS, JPMorgan, Rothschild, Merrill, Credit Suisse, Deutsche, Citi and Morgan Stanley. Their views on the deal can be squarely written off - as can those of E&Y, KPMG and Grant Samuel too. Macquarie is the only major broking house to have been left off this rollicking gravy train and, fancy that, the Macquarie analyst says the deal is unfair to Westfield Retail Trust.
Read more: http://www.smh.com.au/business/devi...e-out-there-20140523-38u8z.html#ixzz3lNvGaUtq
Follow us: @smh on Twitter | sydneymorningherald on Facebook
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