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

To continue reading...

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: