Be among trailblazing marketing pros at Brandweek this September 23–26 in Phoenix, Arizona. Experience incredible networking, insightful sessions and a boost of inspiration at ADWEEK’s ultimate brand event. Register by May 13 to save 35%.
NEW YORK — Bloomberg LP and Internet Wire Inc. were used as “unwilling dupes” by the creator of a false Emulex Corp. press release and shouldn’t be held financially responsible for investors’ losses, a federal judge ruled.
U.S. District Judge Milton Pollack in Manhattan issued a 15-page opinion Thursday dismissing a complaint filed last year by Emulex (EMLX) shareholder Ronald Hart, who claimed Bloomberg “falsely reported to the investing public” details of the fake release that caused Emulex’s stock to plunge 60% in a matter of minutes.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in