Court bans financial reporting?

Zero Hedge points me to this report from Bloomberg.

The banks sought to bar publication of the reports’ content for four hours after their release or until noon, whichever is later. Cote chose a shorter period. For reports issued before the market in New York opens, the ban will be in effect until 10 a.m. For those issued when the market is open, it will last two hours.

“This time frame preserves incentives for the firms to create and disseminate research reports to their investor clients, while still recognizing the inevitable, fast-moving and widespread informal communication of recommendations on Wall Street,” she wrote.

I have a hard time finding a right that trumps freedom of speech in this case. Was it a violation of the contract on dissemination of the research? Then sue the guilty party. Is this a violation of a legislated intellectual property right? Then by all means, take a shot at interpretation. This seems the case:

wrongfully obtains and sells reports on changes to the banks’ stock evaluations

I would say, stay and take a closer look if we are protecting property. The accusation is property theft, and there should be some legislative attempt to arbitrate between the rights.