If only somebody slapped a palm over Roger McNamee's mouth, then Palm ( PALM) could have saved itself a whole lot of trouble. The tech company filed a "free writing prospectus" with the Securities and Exchange Commission Monday on the subject of Palm investor Roger McNamee's recent Bloomberg TV interview and subsequent article. The SEC document includes 10 "Clarifications and Corrections" concerning remarks made by McNamee about the upcoming Palm Pre's functionality, as well as comparisons with Apple's ( AAPL) iPhone. McNamee co-founded Elevation Partners, a private-equity fund that invested $425 million in Palm in an effort to bring the smartphone maker back from the brink of collapse. The highly anticipated Palm Pre is said to be scheduled for a summer release. The lack of a product on store shelves, however, did not stop McNamee from boasting to Bloomberg that the Pre was going to be "several times faster than the iPhone" and would "run rings around Apple on the Web." McNamee also predicted that "not one" of the iPhone's early adopters would renew their contracts, which are set to expire this summer. Obviously McNamee's intention was to promote his own product while simultaneously taking a bite out of Apple, the reigning giant of the industry. What he really did, however, was get a rise out of Palm's attorneys, who rushed to whitewash his colorful yet highly nonsensical commentary. With respect to the Pre being faster than the iPhone, Palm's filing states that "the Palm Pre is still under development, and it is premature to state the speed at which the device accesses the Web or the relative speed of the Palm Pre compared to the smartphone products of competitors." And as for his summer forecast that every single iPhone user would switch to Pre, Palm's lawyers withdrew the statement, calling it an "exaggerated prediction of consumer behavior pattern." No matter how earth-shattering the Pre may prove to be, McNamee should have been prevented from mouthing off. Palm still has no product on the shelves and Apple could still surprise the market with a new product or upgrade of their own. Even David wasn't dumb enough to take on Goliath with his slingshot still "under development." Dumb-o-meter score: 95 -- Palm needs to muzzle McNamee Pre-emptively.