French Agency’s Action Against Bloomberg Strikes at Free-Speech Principles
Participated in a letter of support (with the Reporters Committee and other media groups) filed with the Paris Court of Appeal in Bloomberg v. Autorité des Marchés Financiers. This case arose when cybercriminals launched an attack on construction group Vinci by disseminating a forged press release, which Bloomberg and other targeted news organizations initially published. Despite Bloomberg’s swift correction, the Autorité des Marchés Financiers (“AMF”) found that Bloomberg had violated several articles of France’s Market Abuse Regulation and set a fine of €5 million. Bloomberg appealed to the Paris Court of Appeal. The letter of support, filed in French, argues that the AMF’s opinion misinterprets Article 21, a clause meant to protect – not burden – journalists’ rights. The letter also argues that the AMF’s opinion contravenes free-speech principles as enshrined in U.S. and international law.