Financial Services Group WCS Sues Online Forum Over Negative Post 112
First time accepted submitter kavzee writes The popular Australian online discussion forum, Whirlpool, is being sued by a financial services group for refusing to remove a negative review about its services. A similar story occurred a number of years ago when another company by the name of 2Clix attempted to sue Whirlpool for the same reasons but later withdrew their case. "A financial services business licenced through National Australia Bank is suing an online forum for refusing to remove an allegedly fake and negative post about its services, claiming it has damaged its reputation with would-be clients. It is the latest legal action launched against an online forum or review website for publishing negative comments, following several high profile cases in Australia and overseas. Financial advice group WCS Group has initiated action against Whirlpool in the Supreme Court of Victoria, seeking unspecified damages and costs, despite the fact the forum generates no revenue."
Re:As a chrono-American, I can remember... (Score:4, Informative)
America is closer to a penal colony these days.
From the internetz: http://en.wikipedia.org/wiki/U... [wikipedia.org]
The incarceration rate in the United States of America is the highest in the world. As of October 2013, the incarceration rate was 716 per 100,000 of the national population.[2] While the United States represents about 5 percent of the world's population, it houses around 25 percent of the world's prisoners.[3][4] Imprisonment of America's 2.3 million prisoners, costing $24,000 per inmate per year, and $5.1 billion in new prison construction, consumes $60.3 billion in budget expenditures.
The comment. (Score:5, Informative)
Re:Financial Services (Score:5, Informative)
Because if I use a firm who charges 0.05% and gives me a 3% return, that's better than a firm that charges 1% and gives me a 10% return.
Funds that charge higher fees DO NOT give better returns.
Higher Fees Don't Mean Higher Returns, Study Finds [wsj.com]
24% of Active Mutual Fund Managers Outperform the Market [nerdwallet.com]
In every single time period and data point tested, low-cost funds beat high-cost funds [morningstar.com]
Morningstar Study Says High Fees Are Bad for Investment Performance [thinkadvisor.com]
Anybody that thinks that high fees are buying high performance is delusional.
Re: The question comes down to can they prove fake (Score:5, Informative)
...The defendant always as the advantage in US criminal law.
That's hilarious! [nytimes.com] I wish [wikipedia.org] I had [pbs.org] mod points [ssrn.com]this is definitely [scpr.org] a +5 Funny! [duke.edu]