Warren Buffett-Backed BYD Shocks Auto Blogger With $700K Lawsuit For 'Maliciously Slandering' Review
Portfolio Pulse from Anan Ashraf
Chinese EV manufacturer BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, is suing auto blogger Longzhu-Jiche for defamation, demanding the removal of infringing remarks, a public apology, and $700,000 in compensation. The company claims the blogger has caused serious damage to BYD's brand reputation by posting false information and maliciously slandering the company.
July 24, 2023 | 9:50 am
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NEUTRAL IMPACT
Berkshire Hathaway, as a major backer of BYD, may face indirect impact from the defamation lawsuit against the company.
As a major investor in BYD, Berkshire Hathaway's stake could be indirectly affected by the lawsuit. However, the impact is likely to be minimal given the size and diversity of Berkshire Hathaway's portfolio.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
BYD's defamation lawsuit could potentially impact the company's reputation and stock price.
The lawsuit could potentially harm BYD's reputation, especially if the blogger's claims are found to be true. This could lead to a decrease in consumer trust and potentially impact the company's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The defamation lawsuit filed by BYD could potentially affect the company's reputation and stock price.
The lawsuit could potentially harm BYD's reputation, especially if the blogger's claims are found to be true. This could lead to a decrease in consumer trust and potentially impact the company's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100