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Financial Services Group WCS Sues Online Forum Over Negative Post

Posted by samzenpus on from the I-wish-you-wouldn't-say-that dept.

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."

13 of 112 comments (clear)

  1. As a chrono-American, I can remember... by Applehu+Akbar · · Score: 3, Interesting

    ...when Australia had the reputation, especially with conservatives, as being "America done right." How times have changed!

    1. Re:As a chrono-American, I can remember... by Anonymous Coward · · Score: 4, Funny

      one swallow does not make a summer

      True, but it can make a good pr0n clip.

    2. Re:As a chrono-American, I can remember... by TechyImmigrant · · Score: 3, Informative

      America is closer to a penal colony these days.

      From the internetz: http://en.wikipedia.org/wiki/U...

      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.

      --
      I should use this sig to advertise my book ISBN-13 : 978-1501515132.
    3. Re:As a chrono-American, I can remember... by Ol+Olsoc · · Score: 4, Interesting

      That's because we've figure out how to monetize it. The "for profit prison', means it is a persons patriotic duty to be incarcerated, to help drive the economy.

      http://www.correctionsproject....

      Judges can even profit.

      http://en.wikipedia.org/wiki/K...

      This is a libertarian utopia, to be able to make big bucks, free market style from something that used to cost us money. More proof of their moral superiority, and of how the free market always does things better.

      --
      The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
    4. Re:As a chrono-American, I can remember... by digsbo · · Score: 3, Interesting

      We also have at least four or five separate cultures, some of which get along, and some of which do not. Look at how well northern European and Scandinavian countries react to losing their respective cultural supermajorities over the next decade or so. Should be very interesting.

    5. Re:As a chrono-American, I can remember... by Impy+the+Impiuos+Imp · · Score: 5, Interesting

      > This is a libertarian utopia

      You, sir, are ignorant.

      The vast majority in prison are for drug or other consenting pseudo-crimes, none of which would be there in a libertarian utopia.

      Secondly, libertarians are fine with government-run prisons. It's one of the few things we think government should actually do. Calving it off for private (which wouldn't be even suggested with a vastly reduced prison population) to for-profit private enterprise is a. thing people woupd be agnostic about until proven better. In any case, that's driven by decidedly un-libertarian types like Cheney.

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      (-1: Post disagrees with my already-settled worldview) is not a valid mod option.
  2. not smart by slashmydots · · Score: 5, Funny

    Why did WCS hire Barbara Streisand? She doesn't know anything about investing.

  3. info goes both ways by deodiaus2 · · Score: 4, Insightful

    In an age where companies collect and trade info about customers, it seems only fair that customers should be able to trade info about companies and governments. I hate it when my bank sends info about me to their financial investment partners. Banking and investing are separate business, however there is money to be made off suckers and to avoid people with financial or legal problems.
    The most egregious of these are doctors, who recommend unnecessary procedures just because you have the money to afford them. A patient puts his trust in a doctor, yet it seems as if oftentimes this trust is misplaced. I noticed that Angie's List no longer maintains reviews on doctors. They must have been sued into silence.
    The other day, Fox news ran a story about a lawyer who was charging his client money for sleeping with her. Funny story, but it would have been even funnier had they released the name of the lawyer. Whatever happened to free speech and defending to the death our right for it.

  4. Re: The question comes down to can they prove fake by Anonymous Coward · · Score: 5, Insightful

    That's irrelevant. All that matters is who has the bigger wallet the hire better lawyer. Even OJ won in court.

  5. The comment. by Macfox · · Score: 4, Informative

    This is the comment they're referring too apparently. http://forums.whirlpool.net.au... Could have all been dealt with, had they participated in the forum to correct any misunderstanding. Too late for that now.

    --
    Area51 - We are watching...
  6. Re:Financial Services by ShanghaiBill · · Score: 4, 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
    24% of Active Mutual Fund Managers Outperform the Market
    In every single time period and data point tested, low-cost funds beat high-cost funds
    Morningstar Study Says High Fees Are Bad for Investment Performance

    Anybody that thinks that high fees are buying high performance is delusional.

  7. Re: The question comes down to can they prove fake by NotSanguine · · Score: 4, Informative

    ...The defendant always as the advantage in US criminal law.

    That's hilarious! I wish I had mod points this is definitely a +5 Funny!

    --
    No, no, you're not thinking; you're just being logical. --Niels Bohr
  8. Really Bad idea... by Billlagr · · Score: 3, Interesting

    Whirlpool is incredibly popular, and has a very loyal user base - the offers of money for a legal fund are starting to roll in! I saw nothing in the thread that is defamatory, the OP asked for advice, was told 'do your homework' (entirely sensible), OP came back and said 'I found a better deal, thanks'. Nobody came out and said "this company is shit!" I very much doubt they have a leg to stand on, and all they have done is ensure that a future Google search will bring this little act of douchery up and forever associate their name with it. Good Job!