VMS wins identifying orders for Stockhouse posters
2012-09-11 10:09 PT - Street Wire
by Mike Caswell

VMS Ventures Inc. has won court orders directing Stockhouse Publishing Ltd. to turn over identifying information for four forum posters who allegedly defamed the company. The orders, handed down on Wednesday, Sept. 5, by Supreme Court Justice Barry Davies, compel Stockhouse to provide IP addresses for the users, as well as names and any other information that could help identify them. Stockhouse did not contest the matter.

The orders come after VMS filed four petitions in the Supreme Court of British Columbia complaining of posts by the users that were heavily critical of the company, including some that accused management of insider trading and market manipulation. One of the users called management members "clowns" and said they were "busy shagging sheep instead of running a company." Another called the company a "classic pump and dump." The company said the posts were false and malicious.


VMS VENTURES
VMS president John Roozendaal

The four users subject to the orders are "tamerackerdown"; "nttg2005"; "U3082014"; and a user that posted under several variations of the alias "axeman." Details of their posts are contained in affidavits filed by VMS president John Roozendaal on Aug. 29, 2012.

One of the "tamerackerdown" posts, dated May 9, 2012, stated, "What a joke, the VMS shareholders that are left holding the bag should be very pi-s-d at these guys they call management. VERY, VERY PATHETIC ... ." Another post, dated Feb. 18, 2012, stated, "Don't kid yourselves these guys are not in thier to increase the size of your wallet, they are looking after thier future salaries and this move pretty well proves that point." According to VMS, the posts meant that the company is incompetently managed and is worthless.

In another affidavit Mr. Roozendaal quoted a series of messages by the user who posted under several variations of the alias "axeman." One post, dated, Nov. 5, 2010, read: "I still make MONEY on this Crap but please YOU ALL should know its the BIGTIME CASINO of turning PAPER into CASH EXACTLY what ol Rooozy is doing!!! He gets it CHEAP and has to disclose to provide some semblance of a FAIR playing feild to the retail investors ALL THE WHILE COLLECTING salaries from how many co n the North Shore group????????" VMS said the "axeman" posts implied that management was engaged in insider trading and market manipulation.

Also defamatory, according to the company, were the "nttg2005" posts, which mostly appeared in February, 2012. One, dated Feb. 14, 2012, read: "The management has been dissapionting and are lossing there credibility fast. it shows on all the other companies they own. The are busy shagging sheep instead of running a company. I will not be purchasing any shares in any company that I see these guys on ever again."

The final set of posts that VMS complained of appeared between April 30, 2012, and June 12, 2012, under the name "U3082014," and implied that the company was withholding material information. One post, dated June 12, 2012, read: "Maybe the insiders know something YOU don't, like this thing might be tied up in court for 10 years ....? Meanwhile the money is being spent and VMS is on the hook for 23 million, I hope they can pay it back???" Another post by the same user stated, "VMS .... perfect stock for LOSERS!!!!"

VMS's petitions complained that the posts were freely available on the Internet for anybody to read from the time they were written until Stockhouse deleted them. The company sought (and has now won) court orders compelling Stockhouse to help it identify the users. Presumably the company will now attempt to obtain the actual names of the posters from their Internet service providers.

Vancouver lawyer Andrew Aguilar filed the petitions on behalf of VMS Ventures

Thanks Terry for the info