Tallahassee, FL (PRWEB) October 12, 2011
InvestorsHub.com, Inc. (“iHub”) is pleased to announce that the U.S. Federal Court for the Central District of California has ruled in its favor in the lawsuit filed by Kenneth G. Eade, Case #2:11-CV-01315-JAK. The court also awarded iHub $49,000 in legal fees incurred in defending the lawsuit, ordering Eade to pay iHub within 30 days.
Kenneth Eade sued iHub and 10 John Doe posters in February of this year for allegedly defamatory posts made on the iHub website. iHub raised several meritorious defenses, including that the comments made by the John Doe posters were protected speech under the First Amendment and that immunity was provided by the Communications Decency Act.
In his 12-page ruling, The Honorable John A. Kronstadt granted iHub’s motion to strike Eade’s complaint in its entirety and without leave for him to amend. The court’s ruling effectively dismissed the action against the John Doe posters as well.
Dave Lawrence, spokesperson for iHub commented, “This federal court ruling finding in favor of iHub and awarding legal costs should serve as notice to others who would engage in frivolous litigation, try to plead around CDA immunity or attempt to chill the public’s exercise of freedom of speech.”
Investors Hub, founded in 2000 and acquired by ADVFN plc in 2006, is a leading online US-based stock discussion site with over 300,000 members, over 60 million messages posted, and 18,000 discussion boards. As a wholly-owned subsidiary of ADVFN plc, iHub is able to offer real-time market data on global exchanges to its very active community of private investors at low cost, with no platform fees.
For more information, please visit us at http://investorshub.advfn.com or email dlawrence(at)investorshub(dot)com.