Swatch Group and Bloomberg have been fighting for three years in New York federal courts regarding the publication of a conference call between Swatch and financial analysts. Closely watched by news outlets, a line has now been drawn in the sand by the Second Circuit.
The Conference Call and Publication
On February 8, 2011, Swatch publicized its 2010 earnings report, and as customary, later that day had a conference call with Swatch executives and 132 financial analysts. Though Bloomberg was not invited, and did not attend, shortly after the call, Bloomberg received an audio copy and transcript of the call. The call did not contain any information that was not already revealed in the published earnings report. That day, Bloomberg made the transcript and recording available on its online financial research service website Bloomberg Professional.