While Reuters Took Precautions, Others Could Face Lawsuits

NEWS AND COMMENTARY

NEW YORK--While Reuters fortunately eschewed using news from Internet Wire, Bloomberg is facing a class action lawsuit after using a false press release from it.

Internet Wire and Bloomberg had both put out stories based on a fake press release, which led to a 60 percent plunge in the shares of fiber channel technology company Emulex Corp. and a temporary loss of $2 billion in its market value.

A Reuters spokesperson tells Inside Market Data that, earlier this year, Reuters decided it would n

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