and financial commentator Jonathan Hoenig agreed to drop suits they'd filed against one another, and said no money would change hands.
TheStreet.com is the publisher of this Web site. In February, Hoenig sued James J. Cramer and TheStreet.com, which publishes
, the site that carries Cramer's column, for defamation.
TheStreet.com and Cramer, one of its founders, denied the allegations, and in July countersued Hoenig and his company, Capitalistpig LLC, for unfair competition. TheStreet.com claimed that Hoenig's capitalistpig.com Web site used "James Cramer" and "Jim Cramer" as "meta-tags" since at least April 2002.
Meta-tag keywords are used by Web sites to describe their content for search engines. The parties voluntarily dismissed their claims against each other, and Hoenig agreed to ensure that his site doesn't employ any meta-tags relating to Cramer or TheStreet.com. Neither party paid any financial or other remuneration to resolve the claims.
"We found it quite revealing that Mr. Hoenig claimed in his defamation lawsuit to have been injured by Mr. Cramer, while all along, his company, Capitalistpig LLC, had been using Mr. Cramer's name as a meta-tag to attract traffic to its Web site." said Jordan Goldstein, TheStreet.com's vice president and general counsel, in a statement. "We're very satisfied with this outcome. We always considered Mr. Hoenig's suit to be baseless and are pleased to put it behind us."