JUST CALL DAN: Internet or Bust
Case 1:15-cv-00093-FJS-DJS
THOMAS E. PEREZ, Secretary of Labor,
United States Department of Labor,
Plaintiff,
-against- Civil Action No.:
1:15-CV-93
(FJS/DJS)
DANIEL M. BYRNES & the FORT ORANGE CAPITAL
MANAGEMENT, INC. PROFIT SHARING PLAN,
Defendants.
24" A. I mean, I was aware of what was
25 going on in trading, not necessarily
2 day-to-day, but the general idea of whether it
3 traded or what the price was, not every day,
4 but I had -- you know, I was an investor, so I
5 knew what was going on.
6 Q. How did you look into that?
7 A. Whatever various internet sites that
8 have stock price data or, you know, paperwork,
9 list of stock's price data or, you know, lots
10 of sources.
11 Q. Prior to The Plan's 2011 investment,
12 did you speak with anyone other than
13 management as you considered the investment?
14 A. I spoke to lots of people about the
15 company and what they thought and what have
16 you, but, I mean, no one that I relied upon to
17 make the investment.
18 Q. Who did you speak to?
19 A. Various people, you know, mostly
20 through internet message boards. So people
21 would post things and, you know, I'd read what
22 they said and, you know, might comment or not
23 comment or, you know. There's lots of
24 analysis going on in the internet domain about
25 the company. I read that and things, but
2 there was no formal, you know, conversation of
3 what you think.
4 Q. What internet boards or -- did you
5 look at?
6 A. I mean, there's bunches of them:
7 Yahoo, Ihub [sic], Stockhouse. There's, you
8 know, a plethora of these things around.
9 Q. And what you read on there you said
10 did not inform your decision to invest?
11 A. It depends. Some was good, some
12 was -- I mean, not everything is correct. So,
13 you know, you read what you see out there and
14 you compare it to what you think you know.
15 Q. Did you have actual conversation
16 either in person or by phone with anyone about
17 the investment prior to investing The Plan's
18 money?
19 A. I've had -- I don't recall the
20 specifics, but I certainly -- you know, there
21 was conversation back and forth, whether it
22 was on the phone or internet message boards or
23 in person with people I knew that also were
24 invested, you know, certainly had talks with
25 the company, you know."
In my opinion.
