(Updated: Aug. 8, 2011: AVT Inc.'s suit was dismissed with prejudice, which means that the company is forbidden from bringing such action again. Neither Randall Lane nor Penguin Books nor the Daily Beast had to file a response to the suit.)
An update to the Randall Lane-Lenny Dykstra pay-for-stock-plug scandal: AVT Inc., the company Lane – former owner and publisher of Doubledown Media — alleges in his new book paid former baseball star-turned-finance guru Dykstra to plug its stock, has filed a $100 million libel suit against Lane.
"We are simply not going to allow anyone to publicly defame AVT in this matter without taking action against them," the company’s founder, Shannon Illingworth, said in a statement.