Categories: OLD Media Moves

Bloomberg loses in attempt to get analyst call case dismissed

Bloomberg LP lost a bid to dismiss a lawsuit by Swatch Group AG that accused the news service of secretly recording an earnings conference call with securities analysts and giving a transcript to clients.

Moira Herbst of Reuters writes, “Swatch accused Bloomberg of tapping into its Feb. 8 earnings call and providing a transcript that day to online subscribers, without permission in both cases.

“The world’s largest watchmaker said this occurred after it told listeners at the beginning of the call not to record it for publication or broadcast.

“Swatch sought a court order directing Bloomberg to destroy its copies of the recording and transcript, as well as damages and other remedies for alleged ‘willful’ infringement.

“Bloomberg countered that Swatch had an obligation to be transparent and disclose financial performance information to everyone rather than select analysts.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.