Fly Loses Bid To Reverse 'Hot News' Injunction

Law360, New York (May 10, 2010, 4:12 PM EDT) -- A judge has refused to loosen restrictions on the speed at which financial news website theflyonthewall.com can republish equity recommendations, marking a victory for plaintiffs Barclays Capital Inc., Merrill Lynch & Co. Inc. and Morgan Stanley & Co. Inc., which had argued the site would likely lose its appeal of the case.

Fly did not make a case for lifting or modifying a permanent injunction that barred it from immediately repackaging the financial firms' recommendations into stories for its news site, Judge Denise Cote of the...
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