Wed, Jun 23, 2021
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Other Voices: Supreme Court ruling could benefit hedge funds that scrape web data

Tuesday, June 08, 2021

By: Joseph Fischetti, Peter Greene, Benjamin Kozinn

On June 3, the United States Supreme Court decided Van Buren v. United States, a Computer Fraud and Abuse Act (CFAA) case with important implications for investment advisers and hedge funds that scrape web data as a source of research.

The facts of the case have nothing to do with the financial services industry. Rather, they involve a Georgia police officer found guilty of violating the CFAA for accepting a bribe to run a license plate number through a police database in order to determine whether the owner was an undercover police officer. The theory of his CFAA conviction was that he intentionally accessed a computer "without authorization or exceed[ing] authorized access." The officer had permission to access the database, but the Eleventh Circuit held that he violated the CFAA by exceeding the scope of his authorized access and using the database in a manner that his employer did not allow. Thus, although the officer had authority to access the license plate database, his improper use of the database's data was a criminal offense under the CFAA.

The Supreme Court reversed. In so doing, it rejected the Eleventh Circuit's aggressive reading of the CFAA, which the First, Fifth, and Seventh Circuits also had followed.

In her opinion for the 6-3 majority, Justice Amy Coney Barrett wrote that when the CFAA refers to "information in the computer that the accesser is not entitled so to obtain," it refers only to......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. PE/VC: How Tiger Global earned its stripes as the world's biggest unicorn hunter, The opportunity in private real assets[more]

    How Tiger Global earned its stripes as the world's biggest unicorn hunter From Crunch Base: Tiger Global Management, already one of the most voracious startup investors in recent years, is roaring into 2021 more aggressively than ever. The 20-year-old New York-based investing firm

  2. New Launches: Reverence Capital seeks $1.7bn for new buyout fund, $1.2tn US giant Nuveen launches core impact bond fund into Ucits market, Marlin Equity Partners closes $810m for second Europe fund, Credit Suisse raises $318m climate fund, BNP Paribas AM launches ecosystem restoration fund, Architect Capital raises $100m for asset-based financing[more]

    Reverence Capital seeks $1.7bn for new buyout fund From PE Insights: Reverence Capital Partners is seeking $1.7 billion for its third private-equity fund, re-entering the market less than two years after a predecessor buyout vehicle exceeded its target by 60%, according to people famil

  3. Man Group-Oxford quants say their AI can predict stock moves[more]

    From Bloomberg: Man Group Plc-backed researchers at the University of Oxford say they've created a machine-learning program that can project how share prices move -- notching an 80% success rate for the equivalent of about 30 seconds of live trading. Artificial-intelligence experts at the Oxford

  4. Tiger crowd suffers losses in May, with some funds now in the red, Tiger Global and Third Point are gearing up for a unicorn IPO[more]

    Tiger crowd suffers losses in May, with some funds now in the red From Institutional Investor: May was a rough month for many of the Tiger crowd. Several Tiger Cubs, Seeds and Grandcubs are down by double digits this year. A number of Tiger Cubs, Seeds and Grandcubs posted losses t

  5. New Launches: Madison Dearborn strikes $5bn to close its second-biggest fund to date, Pollen Street Capital IV raises $790m, close to surpass target, Mountaingate Capital Closes Second Fund at $476m, Vontobel launches impact fund for Federated Hermes hire, First Japanese ESG-focused investment fund launched, Greystar raises $882m for pan-European residential fund, Vitality launches ESG fund range[more]

    Madison Dearborn strikes $5bn to close its second-biggest fund to date From Alt Assets: US private equity major Madison Dearborn has struck a $5bn final close for Fund VIII to seal the second-biggest raise in its history. The firm's website confirms the vehicle is currently being u