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Bloomberg Pays Off Economist for Unauthorized Use of Information

In a joint statement released this morning from Bloomberg and CQ Roll Call, Bloomberg announced that it has paid an undisclosed amount to CQ Roll Call for the unauthorized use of files by former CQ Roll Call employees now working for Bloomberg.

“The Economist Group and Bloomberg have discovered that certain former CQ employees now employed by Bloomberg were able to use the log-ins and passwords supplied to them during their employment by CQ to continue to access such information while working for Bloomberg and allowed a small number of other Bloomberg employees to do so. The parties have taken appropriate action to ensure that such access did not continue. In addition, Bloomberg has paid an unspecified amount to The Economist Group as compensation for such unauthorized access.”

CQ Roll Call PR had no comment on the matter.

Andrew Rashbass, CEO of The Economist Group said: “I appreciate the way Bloomberg have handled this. I have the highest regard for their journalistic ethics. I am confident that this conduct will not reoccur.”

Norman Pearlstine, Bloomberg’s Chief Content Officer, said: “Bloomberg appreciates that The Economist Group brought its concerns to Bloomberg’s attention, and is pleased that the parties were able to resolve those concerns in a professional and constructive manner.”

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