Hot stock tip case against publisher will stand

Without comment, the U.S. Supreme Court declined to hear an appeal Monday from a financial newsletter publisher that was sued by the SEC for promising its readers a hot stock tip that failed to materialize. About 1200 people paid $1,000 each to the publishing firn, now known as Stansberry and Associates Investment Research. for access to the tip. Unlike most newsletter publishers that have been targeted by the SEC, Stansberry and Associates had no financial stake in the stock. A U.S. District Court sided with the SEC and so did the 4th Circuit Court of Appeals. The Reporters Committee for Freedom of the Press called the case ”a significant threat to the free dissemination of news about the financial markets and specific investment opportunities” and The New York times is said in an editorial that Congress should intervene to protect the First Amendment.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>