By: The Associated Press//April 15, 2010
By: The Associated Press//April 15, 2010//
NEW YORK — A Web site that publishes the stock recommendations of financial services firms has warned a judge it may be put out of business by a ruling limiting when it can report the tips.
Theflyonthewall.com President Ron Etergino said in court papers made public Wednesday that it has already gotten cancellations since federal Judge Denise Cote ruled last month. The judge said the company must delay disseminating stock recommendations until after the market opens.
Etergino said other financial news companies are allowed to distribute the information before the market opens. The judge had said the company could ask that her rules be altered in a year. But Etergino said the company needs relief now because it could be out of business by then.