View Poll Results: Class Action Suit?

31. You may not vote on this poll
  • Yes

    20 64.52%
  • No

    5 16.13%
  • Wait and see if the Sirius or the SEC initiates an action

    5 16.13%
  • Not Sure

    1 3.23%
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Thread: Should Sirius Investor Sue Jim Cramer?

  1. #1
    Brandon Matthews is offline
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    Joined: Aug 2008 Location: Northeast Posts: 721

    Should Sirius Investor Sue Jim Cramer?

    Some have suggested that a vote be held to determine if a class action suit is warranted against Jim Cramer by Sirius shareholders. Cast your vote here.
    Last edited by Brandon Matthews; 08-27-2008 at 08:02 PM.

  2. #2
    zcurzan is offline
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    Joined: Jun 2008 Posts: 404
    No, only because we all know it would be a collosal waste of time and money and ultimately would be unsucessful no matter how justified it was.

  3. #3
    demonotaku is offline
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    Joined: Jul 2008 Posts: 142
    I vote Yes

  4. #4
    deewcom is offline
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    zcurz, Does sufficient evidence exist? It appears to me that it does. Maybe cramer is untouchable. Have you seen the youtube guy that demonstrates cramer's flip flops? There is a video on the housing bubble that is outrageous.

    Maybe the disclaimers have Cramer covered. Maybe they don't. Surely, Cramer is losing his credibility. He was telling callers not to worry and to hold Bear Stearns as it went down in flames. The SIRI bashing is equally out of line. Cramer is fast becoming a caricature of himself.

  5. #5
    Brandon Matthews is offline
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    Joined: Aug 2008 Location: Northeast Posts: 721
    My opinion is this. Mad Money has a disclaimer as does CNBC. The statements made by Cramer were part of his website's news reporting and were disseminated throughout's network as news.

    He did not make these assertions as opinion but rather as fact, which as you know in my opinion consisted of outright lies.

    The other part of any potential suit is motive. Some could claim he simply made a mistake or was misquoted.

    In this case, Cramer has repeatedly bashed Sirius XM which begins to demonstrate an intent.

    In his statement yesterday, he actually admits his intent to cause a selloff of sirius shares:

    "No matter what I do or say, this stock remains the stock of the people."
    "Regardless what I tell people -- that it took too long for the FCC to vote, that the two companies lost almost a billion dollars while the regulators dallied -- they donít want to sell."
    From there he proceeds to begin a web of lies.

  6. #6
    frigginregan is offline
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    Joined: Aug 2008 Posts: 83
    Why waste more time and more money suing a blowhard like Cramer?

    What purpose does it serve other than to stroke the bruised egos of us longs?


    So I vote...NOT to sue Cramer. For the reasons I mentioned above, but ALSO because doing so just makes us look weak.

    If we have faith in SiriusXM, and BELIEVE as I do that it's only a matter of time before the synergies become REAL and Wall Street has to take notice....then LET CRAMER BABBLE ON.

    You give him too much credit.

    The truth is, that if Cramer wasn't even saying anything, the Weinkes of the world would still be bashing it down right now.

    Because at the moment...even tho the merger limbo is finally over...we are now in TRANSITION limbo. So the environment is still ripe for the shorts to play of the resulting uncertainty.

    BUT...after Mel speaks in September and begins to lay out his plan and show guidance going will become clearer and clearer.

    Will the battle between shorts and longs continue. Yup. Short term there still will be volatility. BUT as each quarter brings new PROOF of SiriusXM profit and growth....Cramer's and Weinke's words will have less and less power of the stock.

    And the day that Cramer backpedals and trys to make it seem he BELIEVED in Sirius all along will surely arrive.

    Until then, long and strong baby. Long and strong.

  7. #7
    deewcom is offline
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    Joined: Jul 2008 Posts: 166

    YouTube Documents Cramer's Insane Flips

    This recent video shows Cramer's flip flop on the housing bubble.
    How the MSM can pretend that prior policy positions, investment advice or opinions never existed in the age of youtube is ridiculous on its face. The MSM is a joke. This is one of Harold's best Cramer busts, IMHO.

  8. #8
    zcurzan is offline
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    I think unless you have him in a private phone call on tape spelling out the intent and steps he was taking in some plot against the stock, any other evidence you can muster is hardly concrete enough to bring a successful lawsuit. Theres always wiggle room, and I guarantee you Jim, and CNBC if you were to bring them in as a defendant, can afford the lawyers to exploit it.

    IMO, screw it. As friggin says, its only a matter of time before these problems work themselves out. In the mean time, if it isn't Cramer its going to be some other nut. What are you going to sue everyone who doesn't believe in a rosy future for satellite radio?

    Is there a case? Is Cramer a dirtbag? Maybe Does he flip flop on his recommendations? Certainly

    We can all agree Cramer is a little fast and loose with the "facts", and he's sensational in his wording. But this is the guy who plays sound effect buttons like they are the bongos, on an FINANCIAL INVESTMENT TELEVISION NETWORK. I don't go around sueing the bum in time square for lieing about the world coming to an end with his cardboard sign. I understand the source of the information is less than credible. If he hasn't convinced you into selling your current position, what's the problem?

    Does anyone have any kind of numbers handy on his viewers? How many? What percent of the market in dollars to they command? And more importantly, how many follow his advice?

    One bald headed man is not holding back our stock price fellas. Patience. Let's let the combined company shake off the dust and spread its wings.
    Last edited by zcurzan; 08-28-2008 at 03:07 PM.

  9. #9
    deewcom is offline
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    A Persuasive Argument

    You present a persuasive argument. You are a thoughtful and intelligent person. I am duly impressed by your logic, reasoning and your ability to express your ideas.

    I believe that there is too much fast and loose going on and the small investor is taking it in the neck for the benefit of the big boys who are playing the fast and loosey goosey with every damned thing.

    Cramer is now perhaps the most high profile stooge of his domain. A counter argument is that taking Cramer to court would set a good example. The law should be king. If Cramer broke any laws, then he should pay the piper.

    Of course, the punative aspect would be the only benefit that shareholders would receive if they were to win a case against Cramer. The lawyers would get rich and the shareholders might get a check for $2.00. This scenario tilts the argument back in your favor. We live in a corrupt society and thats just the way it is.

    Sometimes though, its important to do the right and true thing. IMHO, Cramer pumped and is now intentionally damaging the stock to suit an agenda.

    Clown or otherwise, he should be held to account.

  10. #10
    Pinball Wizard is offline
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    Joined: Jul 2008 Posts: 31
    IMO this is an issue for the SEC.

  11. Ad Fairy Senior Member
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