SEEKING ALPHA WRITERS LITIGATION
Excerpt from Medical Marijuana Inc.'s Letter to Shareholders on April 30, 2013
"I am aware that there are those who feel that litigation should have been commenced by now against Seeking Alpha blog writers that have published numerous negative articles attacking the Company and its management. Some have suggested that our failure to do so is negative reflection on MJNA. I have personally met with litigation counsel to go over the defamatory statements that were presented by Seeking Alpha writers in several of the article(s). The case is clearly laid out. However, it is also more complex than just pursuing defamation claims against a writer and a website as some have stated. The article(s) were blatant attempts, albeit briefly successful, to manipulate our stock price, to damage our shareholders and to create fear and doubt about our credibility. The actions from this group of individuals commenced by the parties posting numerous positive articles about MJNA all while knowing these same individuals would then collectively post those defamatory article(s) right before our quarter financial posting to significantly drop the stock value for nothing more than their personal gain. MJNA had no part of these actions, did not authorize, benefit, participate or have knowledge of what was being written."
"These individuals perform the same actions each quarter and shamefully boasted about their success. Our litigation attorneys are gathering relevant information, will assess the possible claims against all responsible individuals. The Company will move forward based upon the advice and conclusions of our legal counsel."
"All we can ask of our shareholders is that you perform your own due diligence to find out the complete facts versus reacting to postings by individuals who are obviously manipulating the stock value for dubious reasons."
