I think the rockyourworld quote is kind of amusing and somewhat well crafted but misleading b.s. And it was exactly that kind of stuff that made me go to law school and made me glad I did. Lets go over facts- it is true major companies are in the position to bully around others via the courts. Microsoft can even bully the Feds and they say intel grew via stuffing law suits down competitors throats. whether this is true i do not know. Now when I worked as a lawyer for medium sized companies believe me they felt their litigation bills. Because it seems like the litigation was always just enough to eat away at any real nice profits these companies were making. So most business run by the people who own them do not like to waste money on marginal law suits if they do not have to. This is no prediction as to whether anyone will be sued by a prop firm, but unless you have real substantial assets what is the point to suing you. Perhaps to keep your cash but I doubt it.) Now if you are really motivated to tell the truth you may be sued but you probably would win unless there were some really twisted facts. If you are not telling the truth about a business you deserved to be nailed. Finally, I give the advice I took myself, if you can walk away without too big a compromise, then it is usually just better for both parties to just remain professional or businesslike. It usually reflects better on both parties and besides walking around with bitterness and self induced stress is a stupid way to ruin your own health.
It is well settled law that "truth is an absolute defense." You tell the truth, and you won't be found liable. This does not mean that you won't incur substantial legal bills defending yourself successfully. To add my 2 cents to this debate, I state the following: I used to be a member/trader of Echotrade. I left the firm a couple of weeks ago for personal reasons. I was treated well by both the managers and the principals of the firm. No complaints. Trading just didn't work out for me. It did work out very well for a number of the other traders in the San Diego office, and did so very well. Unfortunately, I did not possess their skill set, so I left to pursue other interests. My remaining capital account was wired to me almost immediately. The Echo/Van Buren folks were very professional in this regard. Numbers checked out to the penny. In any event, Echo and Van Buren merged recently. Apparently, it seems as though this did not sit well with many former Van Buren traders then at Echo. Additionally, these traders perceived that there were superior economics available to them at another firm. So, they resigned and went with that other firm. It's really just that simple. And there are no litigable issues of merit involved here, as far as I can determine...and I'm a former commercial litigator.