Mining Co. Says Websites Ran Defamation Stock Scheme

Law360, New York (September 23, 2011, 7:23 PM EDT) -- Silvercorp Metals Inc., China's largest primary silver producer, lodged a multimillion-dollar suit against two investment websites and their operators in New York court on Thursday, accusing them of publishing false and defamatory statements about the company as part of a short-selling scheme.

Canada-based Silvercorp. claims Chinastockwatch.com and alfredlittle.com sought to drive down the company's stock price so its operators could profit on a short sale — where an investor sells securities borrowed from a third party, then buys the same amount of securities at a lower...
To view the full article, register now.