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We’re suing everybody on Twitter

Jun 27, 2010, 20:05 (13 Talkback[s])

"At Globe Tech HQ, we are constantly on the lookout for good-news stories. And boy have we found one.

"Regular Globe Tech visitors will have noticed a story on our site today about an important court decision. A group of big banks asked a judge to force a financial news website called The Fly On The Wall (Theflyonthewall.com) to stop posting immediate updates on analyst research from several major banks. TFOTW published its updates so quickly that the big banks often didn't have time to share the research reports with their clients first. We're not entirely sure how this happened – do wealthy investors only communicate by carrier pigeon? – but it obviously was a big problem for the banks. Fortunately, however, a judge sided with the banks, issuing an order this March prohibiting TFOTW from issuing such updates for a set period of time following their release by the banks – essentially, the judge imposed a time-delay."

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