Federal Judge Bars Instant Publishing of Analysts' Stock Tips

An anonymous reader writes "Big Banking firms Barclay's Capital, Morgan Stanley, and Merrill Lynch successfully obtained an injunction against theflyonthewall.com, Inc., preventing them from immediately publishing the firms' stock upgrades and downgrades. This case could have far-reaching consequences concerning internet communication and publication of news." Here's some interesting analysis from Paul Levy, via Dave Farber's Interesting People list.

Comments

Re:Ok. Help me out here.

[u38cg]

Basically, this company was publishing the results of various investment bank's research before their clients could read and act upon it. The legal reasoning behind it could equally be applied to Google News republishing other people's headlines, for example. More seriously, it means that effectively, you now have a sort of "copyright" created by the courts on factual information that you possess. I leave it to slashdotters to come up with ways this might be abused....

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[account_deleted]

Comment removed based on user account deletion

Why stock markets are EXACTLY like fashion:

[Hurricane78]

1. There are a couple of dudes, who just make up the latest “trends”.
2. Which of course is where they have their money in.
3. Now the dumb people who listen to them buy those s(t)ocks.
4. And the prophecy fulfills itself. (Yep, that’s the “...” point in all those plans.)
5. PROFIT!

Of course in stocks, after it starts to rise because of the dumb people, the more intelligent got a real reason to invest, and so it goes even higher. In fashion on the other hand people do it because they are such losers that they think they would be left out and not accepted otherwise.

So it’s all rigged. But if you know a bit of social engineering, and are really full of yourself, you can be a rigger too.

My motto: I don’t follow trends. I MAKE them. (And so should you. :)