Cleveland-Cliffs CEO Lourenco Goncalves accused a stock analyst of anonymously posting disparaging remarks in an online forum.
Cleveland-Cliffs CEO Lourenco Goncalves has filed a defamation lawsuit against a stock analyst who the company believes made disparaging anonymous comments online.CLEVELAND, Ohio — Cleveland-Cliffs CEO Lourenco Goncalves has sued a stock analyst, accusing him of posting anonymous online comments that urged people to sell the steel giant’s stock and said Goncalves acts like “a mafia boss.”
The lawsuit, filed last week in federal court in Cleveland, accuses Johnson of libel. It’s the second time in seven years that Goncalves sued Johnson.The complaint says Johnson, the founder and CEO of GLJ Research, posted under the screen name MEMBER 50604. That member was banned in 2023 from posting on the Bloomberg Intelligence chatrooms, according to the lawsuit.
Some of the posts included statements that Goncalves lies to get government funding and that he acts like “a mafia boss,” according to the lawsuit. The posts also included statements that when Goncalves buys Cleveland-Cliffs stock, it’s a bad sign for investors. Axiom Capital Management, the company where Johnson worked at the time, published a correction as part of the settlement, but it stood by its recommendation at the time to sell Cleveland-Cliffs stock.to force the company to turn over personal information identifying the owner of an account who has posted hundreds of comments critical of Cleveland-Cliffs and Goncalves. That case remains on-going.
Lourenco-Goncalves Cleveland-Cliffs-Lawsuit @Lll @Yyy
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