Penny stock commentator Timothy Sykes and basketball star Shaquille O’Neal are in a hot battle over Shaq’s involvement with penny stock company NXT Nutritionals Holdings Inc. (NXTH).
Sykes claims in a post that Shaq is a compensated spokesperson for NXT with equity holdings. NXT in turn has used Shaq’s image as part of a $300,000+ promotional campaign aimed at pumping the stock up.
As you can imagine, this does not sit well with Shaq and his legal team. Sykes recently received a cease and desist letter from Shaq’s general counsel Dennis A. Roach. Roach tells Sykes his comments are defamatory. The letter says that “time is clearly of the essence” and demands that Sykes remove of posts.
“It’s a tough little letter with one deficiency: it doesn’t point out anything inaccurate in Tim’s blog posts,” Gary Weiss observes.
It’ll be interesting to see where this goes. Sykes told us that the week the promo mailers started going out is the same week that Shaq was able to start selling his shares of NXTH. Coincidence? We’ll see. Below are images of the promo mailers sent out to various investors via Silicon Investor.
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