A New Zealand-based stock picker will have to pay at least $275,000 after defaming a prominent Australian mining investor via social media, a court has ruled.
Alan Francis Davison, the man behind the Stock Swami Twitter account, defamed Tolga Kumova through multiple social media posts alleging he was involved in a syndicate engaged in "pump and dump" schemes to inflate the value of stocks they owned, Justice Michael Lee told the Federal Court on Monday.
