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Posted 24 Feb 2001   For week ended November 17, 2000
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News about Mormons, Mormonism,
and the LDS Church
Sent on Mormon-News: 24Nov00

By Kent Larsen

Mormon Investment Guru Wins Appeal

SEATTLE, WASHINGTON -- Mormon investment guru Wade Cook had a $655,900 jury award reinstated November 16th. The 1998 jury award came in a case where Cook claimed motivational speaker Tony Robbins had stolen two phrases from Cook's 1995 best selling "Wall Street Money Machine." A U.S district judge had thrown out the original award, claiming that the evidence "compelled a conclusion contrary to the jury's award."

The victory comes at a favorable time for Cook, who recently settled Federal Trade Commission charges that it misrepresented the success of Cook's techniques. The company's 3rd quarter financial statements, released at the same time the jury award was announced, show that Cook's company can use the boost. The results for the 3rd quarter show a decline in sales by more than 30%, but the company actually reported net income for the quarter, as opposed to a loss for the same quarter last year.

Cook is a former cabdriver who pitches a strategy of rapidly buying and selling stocks. He claimed that Robbins used the terms "meter drop" and "rolling stocks" in manuals distributed at Robbins' Financial Power seminars. Cook also owns LDS book publisher Aspen Publishing and its distribution arm, Origin Books.


Wade Cook's victory against Tony Robbins is reinstated
Seattle WA Times 17Nov00 B2


Wade Cook Financial Corporation Reports 3rd Quarter Statements
Excite News (Business Wire) 17Nov00 B2


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