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.
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They are trying to stifle blogs as muck as possible. The truth hurts.
ReplyDeleteGo to hell Morgan Stanley! I love Zero Hedge!
ReplyDeletePelosi spending money like there's no tomorrow -- $1000.00 a week on booze and nearly $30,000.00 for one return flight, yet people on unemployment are getting cheques that don't even equal any of that in the least.
ReplyDeleteThis country is FINISHED.
Oops, posted in the wrong blog. I'll try again.
ReplyDeleteThis is because ZeroHedge went ahead and published the mysterious and unobtainable 'schedule a' beloning to AIG, a document that the american people where never ever ever to see according to the FED in the interest of 'national security'.
ReplyDeleteTrust me that there will be a LOT of problems for ZeroHedge in the coming weeks and months. THen again, the zerohedge team went ahead and relocated their servers to Zurich, Switzerland a few months ago precisely to avoid prosecution for blowing the real whistle. You know, that whistle that sits in every newsroom here in america but will never ever be touched because the people that own the media do not want that.
At ZeroHedge you get the truth about the financial world not some idiot that MSNBC loves to put on the air.
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