ETF News

Hedge fund firm Brevan Howard granted injunction to block Reuters story

LONDON, March 24 (Reuters) - Brevan Howard Asset Management, a British hedge fund firm, has been granted an injunction to prevent Reuters publishing a story it says is based on confidential information.

A High Court judge ruled on Thursday after a private hearing that there were not sufficient grounds of public interest for the story to be published.

“I found that the information in question was confidential and that the public interest in the maintenance of confidentiality outweighed the public interest in disclosure,” judge Andrew Popplewell said in a statement issued on Friday.

He added that he would provide fuller reasons for the judgment in the near future.

A Reuters spokeswoman said: “Our objective is to publish news and information which is in the public interest, which we believe outweighs the confidentiality concerns put forward in this matter.

“We are therefore deeply disappointed by this ruling and are reviewing the court’s decision.”

A spokesman for Brevan Howard said the firm “highly values its ability to engage with its investor base on a candid and confidential basis”.

“In order to protect the integrity of its communications, the firm successfully sought and obtained an injunction to restrain the use of a report based on confidential information made available to investors that was obtained by Reuters in breach of confidence,” it added in a statement.

Under Britain’s legal system, individuals and companies can file for privacy or confidentiality injunctions to try to stop the media publishing information that they say is confidential.

Reuters news agency is part of the Thomson Reuters media and information group. (Reporting by Rachel Armstrong; Editing by Pravin Char)