A federal court dismissed a lawsuit against Seeking Alpha brought by subscribers who allege the financial news website acted illegally as an unregistered investment adviser.
Seeking Alpha is protected from requirement to register with the Securities and Exchange Commission or state regulators by an exclusion for publishers of newspapers, magazines, and business or financial publications, Judge Victor Marrero in the US District Court for the Southern District of New York said in a Thursday decision.
Marrero granted Seeking Alpha’s motion to dismiss but allowed subscribers to amend the complaint.
“Plaintiffs have not met their burden to plead facts sufficient ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.