๐๐ฎ๐๐๐๐ถ๐ ๐ผ๐๐ฒ๐ฟ ๐ฒ๐บ๐ผ๐ท๐ถ๐ ๐ ?
In a recent US legal case, Bed Bath & Beyond Corp. faced securities litigation regarding a tweet by entrepreneur Ryan Cohen.
CNBC accused Cohen of inflatingย BBB’s stock price with positive tweets, despite the company’s financial troubles. A ‘full moon emoji’ in one tweet symbolized optimism in memes rock culture.
The court rejected a summary dismissal, stating that the emoji’s meaning could mislead investors. In the meme stock culture, moon emojis are associated with the phrase “to the moon,” signifying a stock’s rise. Cohen’s tweet could encourage confidence, affecting investors. The case continues, as the court deemed the statement more than just puffery.
Citation – US Dist. LEXIS 129613 (2023)
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๐๐ช๐ด๐ค๐ญ๐ข๐ช๐ฎ๐ฆ๐ณ: ๐๐ฉ๐ฆ ๐ค๐ข๐ด๐ฆ ๐ฅ๐ช๐ด๐ค๐ถ๐ด๐ด๐ฆ๐ฅ ๐ช๐ด ๐ถ๐ฏ๐ช๐ฒ๐ถ๐ฆ ๐ช๐ฏ ๐ช๐ต๐ด ๐ค๐ช๐ณ๐ค๐ถ๐ฎ๐ด๐ต๐ข๐ฏ๐ค๐ฆ๐ด ๐ข๐ฏ๐ฅ ๐ณ๐ฆ๐ฒ๐ถ๐ช๐ณ๐ฆ๐ด ๐ต๐ฉ๐ฐ๐ณ๐ฐ๐ถ๐จ๐ฉ ๐ฆ๐น๐ข๐ฎ๐ช๐ฏ๐ข๐ต๐ช๐ฐ๐ฏ ๐ง๐ฐ๐ณ ๐ข ๐ค๐ฐ๐ฎ๐ฑ๐ญ๐ฆ๐ต๐ฆ ๐ถ๐ฏ๐ฅ๐ฆ๐ณ๐ด๐ต๐ข๐ฏ๐ฅ๐ช๐ฏ๐จ. ๐๐ฉ๐ฆ ๐ช๐ฏ๐ง๐ฐ๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ ๐ฑ๐ณ๐ฐ๐ท๐ช๐ฅ๐ฆ๐ฅ ๐ฉ๐ฆ๐ณ๐ฆ ๐ช๐ด ๐ง๐ฐ๐ณ ๐จ๐ฆ๐ฏ๐ฆ๐ณ๐ข๐ญ ๐ข๐ธ๐ข๐ณ๐ฆ๐ฏ๐ฆ๐ด๐ด ๐ข๐ฏ๐ฅ ๐ด๐ฉ๐ฐ๐ถ๐ญ๐ฅ ๐ฏ๐ฐ๐ต ๐ฃ๐ฆ ๐ค๐ฐ๐ฏ๐ด๐ต๐ณ๐ถ๐ฆ๐ฅ ๐ข๐ด ๐ญ๐ฆ๐จ๐ข๐ญ ๐ข๐ฅ๐ท๐ช๐ค๐ฆ.
#PioneerLegalย #LawAtPLย #MemeStocksย #EmojiMisleadingย #WeirdWednesday
