OLD Media Moves

Judge dismisses suit against Bloomberg

May 18, 2012

Posted by Chris Roush

A U.S. District Court judge decided Thursday to dismiss the copyright lawsuit that Swatch Group brought against Bloomberg L.P.

Swatch sued Bloomberg in February 2011, accusing the news service of secretly recording a conference call with securities analysts and providing a transcript to clients.

The Swiss company said Bloomberg had improperly recorded a Feb. 8 earnings call while it was in progress, and provided a transcript that day to its online subscribers. Swatch said Bloomberg had not been invited or authorized to participate in the call. The Swiss company also said it had instructed listeners at the beginning of the call not to record it for publication or broadcast.

But in the ruling, Judge Alvin Hellerstein wrote, “I find it crucial that Defendant’s use served an important public interest in disseminating business-related information promptly and fully with respect to Swatch Group.”

A statement provided by a Bloomberg spokeswoman Friday stated, “We are pleased with the court’s ruling and we believe that publicly held companies have a responsibility to be transparent and provide equal access to information for the investing public.”

If you would like to read a copy of the ruling, email Talking Biz News at croush@email.unc.edu.

Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.