"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."