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Financial news and information provider Bloomberg L.P. cannot be held liable for erroneously publishing a phony press release issued by a short seller trying to drive down the price of a stock, a federal judge in New York ruled Thursday. The judge found that shareholders of Emulex Corp. failed to state a cognizable claim for fraud under securities laws in their complaint against Bloomberg and Internet Wire Inc.
June 14, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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