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Lawsuit: AMP Futures Trading aka AMP Global Clearing
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Lawsuit: AMP Futures Trading aka AMP Global Clearing

  #51 (permalink)
Site Administrator
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From ET user Pekelo, posted on ET:


Quoting 
Just for the record, Mike let a disgruntled contractor to talk bad about AMP, but when they tried to defend themselves, they were banned. The problem was that the nature of the complaint was very personal and no 3rd party knew who was right or wrong (typical he said/she said case) and it had nothing to do with trading. In short, there was no reason for Mike to provide a sounding board against a company, thus the lawsuit had merit.

I wanted to address this, because it is completely false.

AMP was banned a long time ago, years I believe, well before the post you mention took place. Your facts are completely false. They were banned due to their actions and behaviors on the site, after they were given MULTIPLE warnings. After they were banned, they created more accounts (a violation of our terms). I won't go into details, but lets just say what they did on those accounts was more than reason enough to ban them again and again.

The judge and the law disagree with you. Since the complaint was about AMP, it does have to do with trading. Do you work for AMP or something or are you just that naive in general? If you read the transcript, you will see the judge specifically questioned why Stone wasn't sued. You can read AMP's response and judge for yourself.

Mike

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  #52 (permalink)
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Posts: 46,238 since Jun 2009
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From ET user bone, on ET:


Quoting 
The fact that the futures.io (formerly BMT) lawsuit was not dismissed and found to have standing to proceed tells you that.

Again, do you work for AMP or are you just that naive?

The lawsuit was dismissed, that was the whole point. It was dismissed with prejudice.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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Last edited by Big Mike; July 25th, 2014 at 03:55 PM.
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  #53 (permalink)
Market Wizard
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Big Mike View Post
From ET user Pekelo, posted on ET


Big Mike View Post
From ET user bone, on ET

@Big Mike, while it does serve a limited purpose to respond to these kinds of posts, you shouldn't let it get to you, or spend much energy on it. This could be like an unlimited game of whack-a-mole; whack one and another one pops up.

You're right, and AMP lost the suit. The judge found nothing at all in it that stood up. You would think it would be hard for someone to either misinterpret or misrepresent that, but evidently some people will.

So yes, whack some of those moles, maybe, but the record does not need to be set straight. It is perfectly straight. After a short while, it is obvious that anyone not understanding or misstating that record is either never going to be convinced, or isn't really all that sincere in what they are writing anyway.

The judge gave the verdict, and that is the final word on all this.

Bob.

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  #54 (permalink)
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Congrats!

Now, the lawyers have to go to collect your fees and costs based on the dismissal. I think its Rule 137:

http://www.novackmacey.com/wp-content/uploads/2012/09/Recovering-Attorney-Fees-f...ms-Article-Aug.-2012.pdf

I'm a lawyer in CA, and I'd sure go for it given the state of the CDA law at the time and the stupidity of the JOnes v. Dirty World district court opinion. There's also malicious prosecution:

A malicious prosecution claim “can lead to a more expansive recovery than sanctions, [but] it is also substantially more difficult to navigate successfully,” Mr. Mann and Mr. Haarlow wrote. “To state a claim for malicious prosecution, a plaintiff must demonstrate that (a) he or she won a ‘favorable termination’ of the suit; [t]he defendant brought it (b) without probable cause but (c) with malice, and (d) the plaintiff suffered arrest, seizure of property, or other special damage beyond the normal expense, time, or annoyance arising from an ordinary form of legal controversy.”

In any event, congrats. No AMP business for me, this seemed vindictive.

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  #55 (permalink)
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nicely put lol

futures.io (formerly BMT) HAS WON, AMP HAS LOST. GAME OVER.

It's a shame it took so long. Actually it's a shame they couldn't have just sued Stone instead, but I guess as they put it "he has no money.,.., I can chase that cherry 'til the cows come home."

funny how the world works


Last edited by Itchymoku; July 25th, 2014 at 12:57 PM.
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  #56 (permalink)
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Grats ....

Head up and keep your stick on the ice!
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  #57 (permalink)
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Big Mike View Post
From ET user Pekelo, posted on ET:



I wanted to address this, because it is completely false.

AMP was banned a long time ago, years I believe, well before the post you mention took place. Your facts are completely false. They were banned due to their actions and behaviors on the site, after they were given MULTIPLE warnings. After they were banned, they created more accounts (a violation of our terms). I won't go into details, but lets just say what they did on those accounts was more than reason enough to ban them again and again.

The judge and the law disagree with you. Since the complaint was about AMP, it does have to do with trading. Do you work for AMP or something or are you just that naive in general? If you read the transcript, you will see the judge specifically questioned why Stone wasn't sued. You can read AMP's response and judge for yourself.

Mike


I have a very hard time wondering why people dont just mind their own business. It is child mentality to have the need to "want to be heard", the need for seeking attention, being at the center of the world and everything revolves around me. I know because I have one at home.

This guy is posting his views on another forum that obviously is a competitor to futures.io (formerly BMT) and his anticipated response to his post is obvious - agreement. The virtual world fuels this behavior even more since people are no longer sitting in front of each other and saying things directly - instead they are taking jabs while shielding themselves behind anonymous names. Cowards and spineless is the category that comes to mind. So much that is said on forums and the virtual world in general that will not be said if the parties involved would be face to face. Very few people have principles and stand by them no matter what and very few have the guts to say what they do and do what they say no matter what. You have demonstrated that Mike. I agree with @bobwest on the whack-a-mole metaphor. Let it go.

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  #58 (permalink)
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Big Mike View Post
From ET user Pekelo, posted on ET:

... (cut)

The judge and the law disagree with you.

... (cut)

Mike

I have red with attention every line of the documents you have posted, either on futures.io (formerly BMT) and AMP' side. Non just for curiosity, but because I always try to base my personal opinion on solid ground rather than word of mouth. So that if I make a mistake I can't avoid to make, I do it in good faith.
Of course I am glad the judge has closed the case in your favour, so that nobody gets damaged too hard. Even more I like that the decision seems to be very close to the wisdom of who's not familiar with legal technicalisms. I mean, common sense makes me say they pushed this issue too far, showing a quarrelsome attitude most people don't agree with. Finding out that the law (even if it's not my country's law) confirms that view, make me feel good.

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  #59 (permalink)
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congrats

hey Mike

congrats on winning this. When I initially read it, it was definitely silly that AMP even tried to go this far. They have the wrong people in charge.

you conquered this because your Big Mike and a good person!

Spencer

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  #60 (permalink)
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Really nice to hear this and for those unfamiliar with the legal terminology: What Is a Dismissal With Prejudice?

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