FINANCIAL TIMES LTD V UNITED KINGDOM
[2010] E.M.L.R. 21 533 FINANCIAL TIMES LTD v UNITED KINGDOM European Court of Human Rights (Fourth Section) Application 821/03 Judges Lech Garlicki (President), Nicholas Bratza, Giovanni Bonello, Ljiljana Mijović, David Thór Björgvinsson, Ledi Bianku, Mihai Poalelungi: November 24, 20091 [2010] E.M.L.R. 21 Disclosure orders; Financial journalism; Freedom of expression; Press; Sources of information H1 European Convention on Human Rights arts 6, 8, 10—disclosure of journalistic source—right to freedom of expression—need for flexibility in applying rule requiring exhaustion of domestic remedies—importance of protection of journalistic sources for the maintenance of a free and effective press—relevance of the conduct or motive of the source—relevance of steps taken by journalists to verify accuracy of information—no order to be made if less invasive alternative available. H2 The applicants were the Financial Times Ltd, Independent News & Media Ltd, Guardian Newspapers Ltd, Times Newspapers Ltd and Reuters Group Plc. H3 On October 30, 2001 the board of Interbrew SA, a Belgian brewing group, instructed its investment bankers, Goldman Sachs and Lazard, to carry out work on the possibility of a future acquisition by Interbrew of South African Breweries plc (“SAB”). Goldman Sachs produced a document which was confidential and contained data likely to affect the share prices of Interbrew and of SAB. The document formed the basis of a presentation to Interbrew’s internal mergers and acquisitions department on November 20, 2001. About a week later, copies of a document (“the leaked document”) were sent to each of the applicants (apart from the Independent) by an unknown source.
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