Categories: OLD Media Moves

Bloomberg tells clients it’s missing email data

Bloomberg LP started notifying its Wall Street clients that crucial data about who has received e-mails have been missing for more than nine years, reports Kevin Dugan of the New York Post.

Dugan writes, “Law enforcement officials and regulators often go directly to Bloomberg for e-mails and chats in order to establish chain of custody in cases that involve securities fraud and insider trading, current and former government prosecutors have told The Post.

“‘Those [e-mails] also get produced for the DOJ, FINRA and the SEC amongst other regulators,’ one source told The Post. ‘If they are missing, it is not good.’

“E-mails and chats have been used as evidence against banks in almost all the biggest cases that have rocked Wall Street, from Libor-rigging trials to financial-crisis era frauds.

“‘No information was lost, no instant messages were affected, and only a very small proportion of recipient addresses were impacted in the message archive,’ Ty Trippet, a Bloomberg spokesman, told The Post.”

Read more here.

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.