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But the only person here with any real legal exposure is Wayne.
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Not exactly correct. Generally, anyone who diseminates a defamitory statement to the public is liable for damages to a persons reputation if the statment is proven to be untrue. The statements are evaluated at different standards depending on the entity/ individual against whom the statement is made. Surely everyone here has heard of the National Enquirer being sued for millions, etc.
Unfortunatly, Wayne would just have the deep pockets and may possibly be held accountable if he knew the statements were untrue and continued to all the post to remain. I agree with Wayne's decision if he has cause for concern. Such statments have the possibility of affecting him business wise, personally and financially.
Disclaimer: The foregoing is not considered legal advise and persons with any concerns should seek a qualified attorney.