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Going after an internet blog huh? Good use of TARP funds perhaps?
MS is lucky to be alive and should remain in its pigeon hole if you ask me.
MS is lucky to be alive and should remain in its pigeon hole if you ask me.
Morgan Stanley looking into legal action against ZeroHedge
January 28, 2010 at 6:09 pm by Teri Buhl
At the beginning of the week, financial research firm and industry online publication The Davian Letter posted a story that compared a Morgan Stanley research note written by Jim Caron to a story published by Tyler Durden at Zero Hedge. The Davian story laid out an argument that Zero Hedge was taking data charts from Morgan Stanley research and printing them as its own. Phrases like “serial plagiarism” and “stealing of intellectual property” were thrown around. At first, it wasn’t clear if this was nothing more than a blogger war between two sites, which make their mark publishing unique market views, trying to clock the other out.
Then on Tuesday, Davian published another example that got the attention of the bank’s research team leader, who sent the post to his legal experts to determine if there was any real wrongdoing. Caron told the Greenwich Time he’d didn’t read ZeroHedge before this and had no further comment.
Today, we learned Morgan Stanley isn’t going the take the alleged research lift by online publication Zero Hedge lightly.
In a letter seen by Greenwich Time, Mitchell Bompey, executive director of legal and compliance for Morgan Stanley, writes “Morgan Stanley greatly appreciates your post by Dexter Morgan on Tuesday, January 26, 2010, exposing the plagiarism by Zero Hedge of recent Morgan Stanley research. We are reviewing that site now for possible legal action. Without your article, this abuse of our intellectual property may have gone unnoticed.”
A spokesperson for Morgan Stanley would not comment on the type of legal action the investment bank is thinking of taking against Zero Hedge. While we did hear a lengthy explanation from Zero Hedge that almost sidestepped the issues at hand, those connected with the Web site would not comment on the record, so unfortunately we can’t give you their side of the story. But we have no doubt they will publish one, on their own site, after this news comes out.
Anthony Davian, of The Davian Letter told the Greenwich Time, “We are very happy that The Davian Letter could bring this issue to light. Too many bloggers get away with plagiarizing information and maybe this will help change things.”
Zero Hedge, about which New York Magazine published in an in-depth investigation in September, has taken the financial world by storm, shedding light on practices such as the abuse of high-frequency trading, which later caught the attention of Congress. The site’s loyal following, which some call the “tin-foil-hat-crowd,” has made it an online blogging success. Zero Hedge even teamed up with Halogen Network, an online ad-agency, which predicted it could earn $25,000 a month in advertising. However, many old media journalists and traders see the folk behind Zero Hedge as nothing more than opinionated, biased-thinking Wall Streeters who are trying to influence the street for their own financial benefit.
You see, thanks to news reports, we now know that Zero Hedge founder Dan Ivandjiiski was banned from securities trading, but as for most of its other unidentifiable contributors, we have no idea who they are or what financial positions they hold.
As far what their alleged motive or agenda is in reprinting the economic views of Morgan Stanley as their own ideas, we will likely have to wait to read court documents to find out ‘the why’ behind this story. We do at least know that Morgan Stanley is thankful The Davian Letter published its exposé.
Article here.
January 28, 2010 at 6:09 pm by Teri Buhl
At the beginning of the week, financial research firm and industry online publication The Davian Letter posted a story that compared a Morgan Stanley research note written by Jim Caron to a story published by Tyler Durden at Zero Hedge. The Davian story laid out an argument that Zero Hedge was taking data charts from Morgan Stanley research and printing them as its own. Phrases like “serial plagiarism” and “stealing of intellectual property” were thrown around. At first, it wasn’t clear if this was nothing more than a blogger war between two sites, which make their mark publishing unique market views, trying to clock the other out.
Then on Tuesday, Davian published another example that got the attention of the bank’s research team leader, who sent the post to his legal experts to determine if there was any real wrongdoing. Caron told the Greenwich Time he’d didn’t read ZeroHedge before this and had no further comment.
Today, we learned Morgan Stanley isn’t going the take the alleged research lift by online publication Zero Hedge lightly.
In a letter seen by Greenwich Time, Mitchell Bompey, executive director of legal and compliance for Morgan Stanley, writes “Morgan Stanley greatly appreciates your post by Dexter Morgan on Tuesday, January 26, 2010, exposing the plagiarism by Zero Hedge of recent Morgan Stanley research. We are reviewing that site now for possible legal action. Without your article, this abuse of our intellectual property may have gone unnoticed.”
A spokesperson for Morgan Stanley would not comment on the type of legal action the investment bank is thinking of taking against Zero Hedge. While we did hear a lengthy explanation from Zero Hedge that almost sidestepped the issues at hand, those connected with the Web site would not comment on the record, so unfortunately we can’t give you their side of the story. But we have no doubt they will publish one, on their own site, after this news comes out.
Anthony Davian, of The Davian Letter told the Greenwich Time, “We are very happy that The Davian Letter could bring this issue to light. Too many bloggers get away with plagiarizing information and maybe this will help change things.”
Zero Hedge, about which New York Magazine published in an in-depth investigation in September, has taken the financial world by storm, shedding light on practices such as the abuse of high-frequency trading, which later caught the attention of Congress. The site’s loyal following, which some call the “tin-foil-hat-crowd,” has made it an online blogging success. Zero Hedge even teamed up with Halogen Network, an online ad-agency, which predicted it could earn $25,000 a month in advertising. However, many old media journalists and traders see the folk behind Zero Hedge as nothing more than opinionated, biased-thinking Wall Streeters who are trying to influence the street for their own financial benefit.
You see, thanks to news reports, we now know that Zero Hedge founder Dan Ivandjiiski was banned from securities trading, but as for most of its other unidentifiable contributors, we have no idea who they are or what financial positions they hold.
As far what their alleged motive or agenda is in reprinting the economic views of Morgan Stanley as their own ideas, we will likely have to wait to read court documents to find out ‘the why’ behind this story. We do at least know that Morgan Stanley is thankful The Davian Letter published its exposé.
Article here.
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