Law May Immunize Bloomberg in UAL Bungle
A securities class action against Bloomberg News is likely the next step in the Google-Tribune debacle, in which traders and automated programs dumped UAL stock based on true news that Bloomberg regurgitated from a 6-year-old Chicago Tribune article. The Trib's 2002 article said the carrier was seeking bankruptcy protection.
But because of the Communications Decency Act, those seeking to recoup their losses from Bloomberg might be out of luck, according to David Post, a Temple University legal scholar.
Post quotes a Section from the Act that says "No provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another information content provider."