Swatch Group, the maker of those iconic watches that somehow haven’t come back into style yet, is suing Bloomberg LP for what it claims are copyright law violations.
Keith Kelly says that Swatch is upset that Bloomberg LP made a recording of a Swatch conference call and a transcript of the company’s earnings available to Bloomberg LP subscribers. Apparently Swatch didn’t want any other company rebroadcasting the call, which was already being recorded and streamed online by a company hired by Swatch.
A Bloomberg Spokesperson told Kelly that the company did nothing wrong:
We believe that if a public company dis closes financial performance information to a select group of analysts, that company has a responsibility to be transparent and provide that information to everyone. The investing public has a right to know, and we’ll continue to provide transcripts and recordings from analyst calls to our audiences. We don’t think the Copyright Act says otherwise.
We look forward to Mayor Bloomberg reiterating this statement, and adding insult to injury by claiming he never thought Swatch’s were all that cool anyway.