Barclay’s Capital, Inc. v., Inc.

650 F.3d 876 (2d Cir. 2011)

Hot news doctrine affects news outlets and data distributors alike.

Hot-news misappropriation is a cause of action that protects "hot news (time-sensitive information) as "quasi-property." In the modern context, hot news relates to the reproduction of information that is gathered by another, before she has an opportunity to wield her competitive advantage.