Press and financial markets protection

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On February 14, 2024, the French Supreme Court rejected the appeal lodged by a press company, confirming that journalists can be sanctioned by the Autorité des marchés financiers if they fail to comply with the rules of their profession.

The dissemination of erroneous or misleading information about a listed company, causing its value to fall precipitously, may give rise to liability on the part of a press agency which, although not seeking to harm the market or gain any advantage whatsoever from such dissemination, did not question the authenticity of the information received and did not carry out any checks.

(Cass. Com, February 14 2024, no. 22-10.472)