Vending Solutions Co. Files $100m Libel Suit Against Author

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Corona, Calif.-based AVT, Inc. (formerly  Automated Vending Technologies) has filed a $100 million suit in Orange County (Calif.) Superior Court against an author and his publisher, alleging libel, false light invasion of privacy, and negligence.

The case, AVT, Inc. v. Russell [sic] Lane, The Penguin Group, et al. (Case No. 00386093) before Judge Gregory H. Lewis, arises from a book published in June 2008, The Zeroes: My Adventures in the Decade Wall Street Went Insane, written by defendant Randall Lane, editor-at-large of The Daily Beast blog and former Washington bureau chief for Forbes magazine.


In its 15-page complaint, the plaintiff alleges the defendants falsely accused the company of engaging in illegal activities that also purportedly involved former Philadelphia Phillies outfielder Len Dykstra, who has contributed to cable tv financial guru Jim Cramer's website, TheStreet.com, because of his purported stock-picking expertise. Lane has written that Dykstra allegedly personally benefitted from the plaintiff in return for promoting AVT's stock on TheStreet.com.