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AVT Sues The Zeros Author For Defamation

Posted On: 7/9/2010

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AVT Inc., AVT lawsuit, Shannon Illingworth, Randall Lane, The Zeros, Lenny Dykstra, vending, vending machine, vending machine business, vending news, coin-op news

CORONA, CA -- Vending machine manufacturer AVT Inc. has filed a $100 million lawsuit against author Randall Lane for libel and false statements in his new book, The Zeros: My Misadventures in the Decade Wall Street Went Insane.

The Zeroes is Lane's account of the greed, excess and eventual demise of the hedge fund and trader lifestyle. He became privy to the Wall Street escapades of the rich and famous as chief executive and editor of the now-defunct Doubleday Media, which published Trader Monthly magazine.

The lawsuit, filed in Orange County Superior Court, seeks damages for Lane's claim that AVT paid former New York Mets star Lenny Dykstra to plug its stock on investment news and analysis website TheStreet.com, for which he was a columnist.

"We are simply not going to allow anyone to publicly defame AVT in this matter without taking action against them," said AVT founder Shannon Illingworth.