Clunge v Rentier

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In the Contrarian’s Bench Division

Clunge v. Rentier [2022] JCLR 60

2022: Oct 31

Lord Justice Cocklecarrot M.R.

Tort — Disclaimer — Financial Advice — Whether Disclaimer Disclaiming Personal Responsibility and Recommending Independent Advice applied to Itself

Motion to strike out proceedings brought by Sir Anthony Clunge, K.C., plaintiff seeking damages in tort for negligent misstatement against Brandon “Chip” Rentier, defendant, relating to statements made on Social Media.

Dame Marjorie Wrigley, K.C. for the appellant
Sir Jerrold Baxter-Morley, K.C., for the respondent

(Cur adv. vult)

Lord Justice Cocklecarrot M.R.: The information revolution has wrought transformations upon our society the like of which have not been seen since Thomas Savory invented the steam turbine in 1698. The internet has, as never before, vouchsafed the capacity to every man, woman and child, to publish to the world whatever pops into their heads. It has had ghastly consequences. Businesses rapidly emerged to take advantage of our natural craving for public approval. Mature professionals in positions of some responsibility cannot take the air without connexion to a device. A notable such “social media” business is Twitter, whereupon the exchange which begs our attention came about.

Mr Rentier is one of those rather workaday individuals that are peppered around the world wide web. They have unshakeable opinions on everything. Mr Rentier has launched knowledgeable micro-disquisitions over the years on all manner of topics: baseball, rocketry, the pros and cons of palm oil, protocols for royal funerals, epidemiology, land-based military strategy on the Russian steppe, the relationship between monetary policy and inflation, and Kanye West, but one of the most common has been investment strategy.

Mr Rentier ’s investment tips have no more real-world qualification than do his views on the bowck_ketter constitutionality of row v wade — he is neither lawyer not financial adviser — but he has periodically issued forth salvoes on stocks, bonds and commodities.

His tweetstorm — I am told these are nowadays called “threads”— of October 17rh is a case in point. Mr Rentier issued his Seventh Rules for sound investment🧵👇 ”

As it happens, Mr Rentier ’s advice was fairly sound. We had Everet expert evidence to that effect.