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Creative Edge (FITX) CEO issues 'sorry-not-sorry' for publishing stock critic’s home address

Chris Parry Chris Parry, Stockhouse.com
6 Comments| July 10, 2014


Bill Chabaan, the CEO of Creative Edge Nutrition (OTO:FITX, Stock Forum) published a rambling partial-apology on Facebook Thursday morning in the wake of sustained shareholder outrage after he posted the personal name, picture, job and address details of a Twitter critic of his stock a day prior.

The enigmatic CEO, who has been barred from social media by his board once before after remarks published in a Stockhouse interview, took to Facebook Wednesday to lash out at Twitter user @WolfOfWeedSt with a threat that “It will be great to have your trading practices vetted by the SEC.”

The post ended with the now ironic statement, “We are ALL accountable for our actions and words,” followed by a torrent of personal information and pictures of the formerly anonymous user.

Creative Edge Facebook followers who disagreed with the CEO’s actions had their comments deleted and were barred from the page. The offending CEO posts were deleted later in the day when FITX stock began to fall.

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‘The Wolf’ told Stockhouse it would be silly for any annoyed investor to use the address information for nefarious means as “Florida is a 'Stand Your Ground' state” and he didn’t “want to have to shoot anyone,” but was shocked that a CEO of a public company would engage in such practices.

Chabaan has not replied to requests for comment.

Amazingly, Chabaan’s apology today showed no regret for his actions and did not appeal to the target of his actions in any positive way. Rather, he showed regret only to shareholders for his ‘unconventional practices’ and how ‘incredibly passionate’ he is for his company, not for the breaches of privacy and threats that have outraged many.

“Good morning shareholders, it is in my humble opinion that yesterday's Facebook postings may have been bold and inexcusable to many,” said the CEO in a 460-word posting. “I apologize to the shareholders for my unconventional practices, but please understand the focus on FITX and Creative Edge Nutrition for the purposes of stock manipulation is not legitimate and we have zero tolerance for such practices. I will defend this company at all costs.”

Rather than admit his actions were wrong, Chabaan used his apology to go on the offensive and reiterate his claims that The Wolf was engaging in stock manipulation when he repeatedly asked on Twitter why FITX stock seemed to see a big sell-off at the open almost every day for several months, a trend that continued Thursday with the company shedding 3.5% in early trading.

The first comment on Chabaan's sorry-not-sorry, from shareholder Craig Poupard, said simply, "Good luck. I'm out."

In the midst of the firestorm yesterday, Seeking Alpha blogger Matt Finston revealed he had been threatened by Chabaan on Facebook a few months prior, with the CEO telling him “the lawyers already have all your information. They now [sic] your sisters name, your parents name.”

finston.jpg

Far from chastened, Chabaan repeated his allegations Thursday, saying, “The important question is as follows ‘when does a CEO respond to false allegations, stock manipulation, racism about the origins of the CEO and certain staff and slurs of indigestible commentary every single day?’" How is it that a social media outlet with thousands of followers host contests [sic] incredibly damaging without ramification. It will not be tolerated!”  

Amazingly, as the apology rolled on, Chabaan seemed to reiterate his earlier threats and defend the action of ‘outing’ critics of the company rather than walk them back.

“It is a clear message that you cannot hide behind an avatar. We will ensure you are held responsible for your comments and your actions.”

‘The Wolf’ told Stockhouse Wednesday he was looking into legal ramifications. Early Thursday he posted screenshots of his investment accounts to Twitter to confirm he holds no position in FITX.

The Twitter hashtags #SackChabaan and #DisBillieve have been generated out of the controversy as has a growing call for Chabaan to resign.

Chabaan vowed in March that his company would have an MMPR approved within 8 to 12 weeks. The company is, as yet, unlicensed and has lost half its value since late April.

fitxapology.jpg

--Chris Parry
http://www.twitter.com/chrisparry


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Comments

lucass81
The only POC are from Matt and Chris. You are saying that we are asking Bill to resign, I don't think so. Why would he apologise to Matt or you for that matter when all you've ever done was to put FITX and Bill down. Chris, are you held responsible for your nasty comments and your actions. You should be ashamed. You and Matt are alike and you both have a problem. You call yourself a writer, Stockhouse should be ashamed of you and your lies.
3.5 stars
July 13, 2014
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Palbertan
That is some good reporting Chris..very entertaining stuff!!
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July 14, 2014
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biloshi
Chris, maybe you should get off this vendeta you have with FITX and get back to the general sector reporting! This is the 5th article you've written on this co. Seems you had very litte to say about the rest of the sector today or that C.PMC was up 25.71% at the close but than again you've been busy as of late putting the boot to FITX !!!
2.5 stars
July 10, 2014
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biloshi
Chris, Don't know what is worse......? But in your case it would have to be drinking and writing!!!
2.5 stars
July 13, 2014
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Boug1234
True enough how about some news on what's going on with all the other company s would like some updates on what's going on with all other guys you were reporting on like to see your charts you were posting that would be refreshing news thanks boug1234
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July 11, 2014
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hedgefundguy01
biloshi great post I bet a lot of us feel the same about his waste of time reporting about this POC company thanks again
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July 11, 2014
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