Richard Bove sued for defamation

Not too long ago, Ladenburg Thalmann bank analyst Richard Bove made headlines when he put out a list of the banks most likely to fail. There was a day when analyst research was basically limited to clients. These days, however, people pretty much expect it to be posted on the web. Sure enough, someone gave the report to Dealbreaker. BankAtlantic, No. 10 on Bove's list, was not too happy. It sued him for defamation, reports the New York Times. The bank's view, of course, is that such commentary, especially when given a public airing, is irresponsible in that it could prompt a run on a bank that would make the bearish view almost self-fulfilling. Recall Sen. Charles Schumer's public comments about IndyMac. This may be a hard case legally for the bank, but it has made its point. Now, if it were to fail, that would complicate matters.   

For more:
- here's the New York Times article

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