Class action suit filed against PSA, PWCC and Probstein

[WhenItWasAHobby]

Originally Posted by benjulmag

PSA to me bears a lot of similarities to Coaches Corner. The latter as one will recall defended its authentication of bogus autographs by saying all they were doing were rendering good faith opinions.

Good analogy.

It's amazing that over a year has passed since the Blowout threads exposed widespread card doctoring and yet PSA appears to be stronger than ever. The CU stock is now over $43 - which is about double of the stock price when the scandal broke.

Sadly, it now appears very little will come of this. We recently learned that PSA will not buy back the doctored cards, but rather tell the consumers to the settle up with the seller. PSA continues to ban and silence collectors on their message boards who publicly acknowledge the problem. The outed card doctors, if banned, will likely use "fronts" to submit doctored cards to PSA and collectors and investors will continue to spend millions of dollars on doctored cards with not a clue they've been duped. In short it's utterly sickening how a select group of people have enriched themselves using this deplorable business model.