The flawed reasoning is the rock-solid belief in the Jeffries letter. The letter fits very well into the bashers story so ignorance is bliss. I think it was Investo who said it was written by the Jeffries lawyers and why would they lie? First, I'd guess there's about 111 billion reasons to lie. Second, using lawyer and lie in the same sentence seems appropriate. Attorneys are paid to solve legal issues damn the ethics.
I think the Jewffries letter is pure BS and the only reason it came forward is because they got caught and a response was required.