Court Says Business News Outlets Can Scoop Wall Street Analyst Reports

By | Monday June 20, 2011 @ 12:10pm PDT

You may think that most Wall Street analyst reports are a waste of paper and pixels. But they’re newsworthy because they often move stock prices. That’s why business news organizations are breathing a sigh of relief today following a U.S. Court of Appeals for the Second Circuit ruling that upholds their right to report on analysts’ recommendations — even before the analysts’ clients have a chance to read the updates. The court said that research analysts make news in much the same way the NBA does with a basketball game, or the American Theater Wing does with the Tony Awards. Just because Wall Street firms make the news, the court said, “does not give rise to a right for (them) to control who breaks that news and how.” The decision overturned a district court ruling that sided with Bank of America’s Merrill Lynch, Barclays, and Morgan Stanley in their effort to stop a financial news website, Theflyonthewall.com, from selling daily updates listing changes in financial firms’ recommendations. The firms said that the website was enjoying a free ride off of their work. They also said that their reports were protected under a New York law that grants copyright protection to providers of “hot news.” Last year the district court said that the website would have to wait until 10:00 AM ET to report on analyst recommendations made before 9:30 when the markets open, or two hours after the firms issued new recommendations. That order was not enforced during the appeal. The appeals court shot it down, citing federal copyright laws that it says supersede the New York law. Read More »

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Don Johnson Awarded $23.2M In ‘Nash Bridges’ Lawsuit Against Rysher

By | Wednesday July 7, 2010 @ 2:09pm PDT

donjohnson1Another hey-you-didn’t-pay-me-my-profits lawsuit. This time a Los Angeles jury sided with Don Johnson who was both the star and a producer on the 1990s crime series Nash Bridges. Johnson sued 3 entertainment companies in 2009, claiming he was owed millions in … Read More »

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Lindsay Lohan To Serve 90 Days In Jail

By | Tuesday July 6, 2010 @ 4:03pm PDT
Mike Fleming

lindsay-lohanNormally, Deadline doesn’t cover the personal lives of Hollywood types, except under circumstances which affect their professional lives. But the Lindsay Lohan saga is worth mentioning because it gets sadder and sadder since she was a once-promising young actress. Lohan was sentenced today … Read More »

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Oprah Winfrey Eyed For U.S. Senate Seat

By | Monday June 28, 2010 @ 10:27am PDT
Nellie Andreeva

Rod Blagojevich was considering appointing Oprah Winfrey to the Illinois Senate seat to replace Barack Obama, according to a wiretap played today at the former Illinois governor’s corruption trial. Per news reports, on the tape recorded on Dec. 2 Blagojevich and his former chief of staff John Harris go over … Read More »

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YouTube Wins Viacom Copyright Lawsuit

By | Wednesday June 23, 2010 @ 2:05pm PDT

UPDATE: In connection with the summary judgment ruling today in its litigation against Google and YouTube, Viacom Inc made the following statement:

viacom-youtube-logos“We believe that this ruling by the lower court is fundamentally flawed and contrary to the language

Read More »

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Mark Cuban Threatening To Back Icahn As Hostile Lionsgate Takeover Intensifies

By | Thursday June 10, 2010 @ 12:11pm PDT

cuban_mark050517BREAKING NEWS! UPDATE: Lionsgate insiders tell me: “This isn’t a big surprise and doesn’t change the dynamics of the Icahn takeover fight.  Cuban was one of Icahn’s nominees for the Yahoo Board of Directors in 2008, and … Read More »

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Charlie Sheen’s Jail Time Won’t Impact ‘Men’

By | Tuesday June 1, 2010 @ 11:56am PDT
Nellie Andreeva

Two and a Half Men star Charlie Sheen will plead guilty and serve jail time over misdemeanor charges stemming from his Christmas Day arrest for alleged domestic violence, according to several sites, including People and TMZ. But the 30-day sentence, which is expected to be reduced to 15-17 days for … Read More »

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2ND UPDATE: Behind Ken Starr Indictment

By | Thursday May 27, 2010 @ 5:00pm PDT
Mike Fleming

2ND UPDATE WRITE-THRU 1:30 PM: The indictment of financial advisor and accountant Kenneth Starr has the potential to be every bit as serious as the one that gripped Hollywood when Cassanda Group’s Dana Giacchetto fell from grace after defrauding some of Hollywood’s biggest names in the 1990s.

Starr was arrested along … Read More »

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UPDATE: Did Uma Thurman, Jim Wiatt And Bunny Mellon Help Flush Accused Investment Advisor Ken Starr?

By | Thursday May 27, 2010 @ 2:02pm PDT
Mike Fleming

UPDATED WRITE-THRU: The indictment of financial advisor and accountant Kenneth Starr has the potential to be every bit as serious as the one that gripped Hollywood when Cassanda Group’s Dana Giacchetto fell from grace after defrauding some of Hollywood’s biggest names in the 1990s.

Starr was arrested … Read More »

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SEC Bares Text of Inept Suspects As They Sold Disney Earnings Info To FBI Agents

By | Wednesday May 26, 2010 @ 6:15pm PDT
Mike Fleming

UPDATE AT 6:15 PM: More details have surfaced in the shocking indictment of Bonnie Hoxie– the administrative assistant to Disney corporate communications head Zenia Mucha—and Hoxie’s boyfriend Yonni Sebbeg for allegedly trying to peddle an early quarterly report to hedge funds for cash payment. In the annals of insider trading, … Read More »

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UPDATE: Disney Denies Claims It Is Close to Selling ABC

By | Wednesday May 26, 2010 @ 10:59am PDT
Nellie Andreeva

UPDATE 11 AM: The Walt Disney Co. just issued the following statement relating to the complaint filed by the U.S. Attorney on May 26 in New York:

The Walt Disney Company has been fully cooperating with this investigation. The reference in the complaint to conversations regarding the ABC Network were and

Read More »

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The Morning After: PTC Slams CBS’ ‘$#!’

By | Thursday May 20, 2010 @ 11:10am PDT
Nellie Andreeva

Well, that didn’t take long. The Parents Television Council this morning issued the following statement regarding new CBS comedy series $#! My Dad Says, which was announced yesterday.

LOS ANGELES (May 20, 2010) – The Parents Television Council denounced CBS for choosing to insert an expletive into the name of its new

Read More »

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WGAE Supports ‘Crude’ Docu Filmmaker

By | Tuesday May 18, 2010 @ 2:12pm PDT
Mike Fleming

The Writer’s Guild East has come out on behalf of documentary director Joe Berlinger, who last week was ordered by a Federal Judge to give Chevron more than 600 hours of footage he compiled for the documentary Crude: The Real Read More »

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Joel Silver Sues Goldman Sachs (And Can We Sue To Close His Crappy Dark Castle?)

By | Monday May 17, 2010 @ 11:33pm PDT

Goldman_Sachs_logoMost of the time, Hollywood is complaining about Joel Silver. Now the producer is complaining about Wall Street. Matthew Belloni scooped about the breach of contract and fraud lawsuit filed today in LA Superior Court by Silver against Goldman Sachs. It claims the investment bank … Read More »

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Lionsgate Announces Talks With Icahn

By | Monday May 17, 2010 @ 12:22pm PDT

BREAKING NEWS! The studio just filed a 14D-9 a few minutes ago announcing that “settlement discussions” with Carl Icahn have begun. A sources tells me that the corporate raider/shareholder activist came to Lionsgate “and wanted to talk. LG has a fiduciary responsibility to listen.  He is their second largest shareholder and they will … Read More »

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Warner Bros/DC Comics Sues ‘Superman’ Copyright Lawyer; Marc Toberoff Response

By | Friday May 14, 2010 @ 12:45pm PDT

BREAKING NEWS! 2ND UPDATE 12:40 PM: The subject of today’s Warner Bros/DC Comics lawsuit, Los Angeles copyright attorney Marc Toberoff, just gave me his response. (See below)

Original Post Filed 10:26 AM. Updated Writethru 11:30 AM:
superman comic 30Today there’s … Read More »

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UPDATE: Lionsgate Loses Poison Pill Appeal; What Defense Against Icahn Is Left?

By | Friday May 7, 2010 @ 11:54am PDT

UPDATE: Drama, drama, drama! (And fast drama.) First, the British Columbia Court of Appeals today granted lionsgate_logoLionsgate’s request to reexamine the British Columbia Securities Commission’s decision to stop the studio from using a poison pill defense against Carl Icahn’s attempted hostile … Read More »

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Judge Calls Off Dogs On David Bergstein

By | Tuesday May 4, 2010 @ 5:15pm PDT
Mike Fleming

A Los Angeles Superior Court judge recalled the bench warrant he issued on David Bergstein after the embattled film financier showed up in a courtroom to address his unpaid casino markers worth nearly $1 million. Judge Matthew St. George issued the bench warrant after Bergstein sent his lawyer to handle … Read More »

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Polanski: “I Can Remain Silent No Longer!”

By | Sunday May 2, 2010 @ 4:41pm PDT

Film director Roman Polanski today broke his silence first the time about his Swiss arrest and pending extradition back to Los Angeles. He released this statement to the news media through his Paris friend and author Bernard-Henri Lévy, director of the French magazine La Règle du Jeu:

Read More »

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