The Visa Victory
Dallas, TX trial attorney Jeff Tillotson talks about representing the credit card company Visa in a big case.
Email: [email protected]
Phone: (214) 382-3040
In the Visa case I represented Visa the credit card processing company against a start up called Zix It. The allegation was a Visa employee had secretly done online postings disparaging Zix It and its product because they were a potential competitor of Visa. He had created a series of fake online names and was busy posting on the stock boards damaging information about Zix It. Zix It was a thinly traded stock and their allegation was your comments hurt us and hurt our ability to sell our stock and ultimately, the company went under.
We had a four-week trial here in Dallas it was one of the first internet defamation cases for it. And I remember during the trial the only asset Zix It had was this lawsuit and so we could see the trading price of the stock go up and down and we used to laugh I must have had a good cross examination, their stock dropped a dollar during my cross examination or they must have scored points, their stock is up 50 percent.
Ultimately, the jury came back in favor of Visa, they found that the employee had not hurt the company that much and to the extent he had he had been acting outside his course and scope. And I have here in our conference room a reminder the moment the verdict came out with a win for Visa the stock price drops from $5.00 for Zix It to about fifty cents. And it was sort of kind of a stark reminder that the real world was reacting to our trial on a day by day basis.