Mining company sues Hot Copper online investment forum for...

Mining company sues Hot Copper online investment forum for defamation

Patrick Stafford /
Tuesday, August 17 2010
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DefamationCopperLawsuit
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Copper mining and exploration company CuDeco is suing the controversial Hot Copper forum and two of its members for allegedly making misleading and defamatory remarks against the company, a statement revealed this morning.
It isn’t the first time Hot Copper members have landed themselves in trouble, with one paying $30,000 earlier this year to security company DataMotion after being accused of defamation.
CuDeco said in a statement yesterday it will be filing claims in the Supreme Court of Queensland against the forum for misleading and deceptive conduct, and injurious falsehood.
“Chairman of CuDeco Wayne McCrae is to file substantial claims against “Hot Copper” and the “two posters” for defamation over a period of one to 12 months,” the company said in the statement.
The Hot Copper forum plays host to several investors who use the board to discuss the ASX and various listed companies. However, like the infamous Whirlpool forums, many of its users criticise company management personally and the board is known to be a hotspot for rumours.
The announcement comes after CuDeco requested a trading halt yesterday due to an update expected on the performance of its Rocklands project.
Earlier this year data security company DataMotion sued Hot Copper member Graeme Gladman after he allegedly made defamatory comments against company director Ronald Moir. The firm asked Hot Copper to reveal the identity behind Gladman’s username, but it refused.
The case eventually went to court, with Gladman playing $30,000 in damages. At the time, Rostron Carlyle senior consultant Mark Jones told SmartCompany the case provided grounds for companies to pursue comments made on blogs and forums.
Both CuDeco and Hot Copper were contacted for comment this morning, but no reply was received before publication.