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Web Site Barred From Quick Release of New Ratings

Explaining the “hot news” exception to First Amendment law and its application to the investment banking sector. Although the exact wording and presentation of news content is copyrightable, facts are not, and can be freely used by all. There is an exception to this rule for hot news, which is news that is obtained because of a superior news-gathering source or mechanism, that does not extend the general First Amendment protection of facts to all other news sources.
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