The lawsuit alleged that various persons posted false, misleading and defamatory information about New Visual and its business practices and management on the Raging Bull web site.
New Visual reached its settlement with someone identified only as “wbe,” who has now stated:
“wbe hereby fully and publicly retracts each and every one of its messages regarding New Visual Entertainment Inc. posted on the Raging Bull message board.”
The settlement agreement contains additional provisions in which “wbe” further represented that it has not at any time purchased, offered to purchase, traded, sold or offered to sell New Visual stock, whether as a broker, agent or principal. “wbe” agrees to never again post messages on any public forum as “wbe” or any other pseudonym.