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Article: Business Wire Comments On SEC Lawsuit Against Estonia Firm; Business Wire News Releases Were Not Accessed Prior To Distribution.
- Article from:
- Business Wire
- Article date:
- November 1, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN FRANCISCO -- Business Wire clarified details today concerning the SEC's lawsuit charging employees of an Estonian investment bank with insider trading.
"No one," said Business Wire Chairman and CEO Lorry Lokey, "gained access to our news release file prior to distribution to the media and investment community. Some of the SEC statements in its complaint have been misinterpreted."
Business Wire's proprietary news distribution platform, "NX," was not compromised. Certain individuals gained access to a screen shot of limited background information. This information did not include the content of news releases.
"Virtually any computer system ...