Journalistic dissemination of erroneous financial information: characterised breach and heavy penalty for violation of the rules governing journalism

Written by Éric Dezeuze and Anne Guilberteau

Published by the Revue des sociétés

Do not confuse speed with precipitation: in a context of active competition between financial journalists to quickly inform the financial markets, the French Supreme Court (Cour de Cassation) reminded them, in its widely circulated ruling of 14 February 2024, that they must contribute to ensuring the integrity of these markets by complying with the rules of their profession before disseminating information; failing that, they may incur heavy fines for market manipulation if they disseminate incorrect information. Freedom of the press, which protects their activity, cannot be used as grounds to justify carelessness on their part that compromises the quality of the information relating to the financial markets or to financial instruments. Read more