Bloomberg story quoting report paid for by company is corrected
Bloomberg News corrected a story Friday published Thursday that initially quoted an analyst report paid for by the company, BioSolar,Â and the update storyÂ now states that the analyst was paid.
The original story did not disclose that the analyst had been paid for the report.
The story now reads, “Beacon said in a statement distributed Jan. 10 by PR Newswire that it was compensated $15,000 and 100,000 restricted shares by a third party for enrollment of BioSolar in a research program, without giving more specific information. Earlier today, BloggingStocks.com reported the payment.
“‘Any discrepancies in our disclosure was an oversight, if anything, and we will fix the information,’ Jeff Bishop, editor of Beacon, said in a telephone interview Jan. 18. ‘Victor Sula is paid in cash, on salary, and doesn’t have any affiliation with BioSolar.’ Bishop said he doesn’t have a telephone number for Sula, who works in Europe.
“Lee didn’t return phone or e-mail messages Jan. 18 seeking comment on the compensation.”
BloggingStocks.com had earlier criticized the story for not disclosing the conflict of interest.