In the last 12 months, more than 1,500 people submitted cases to FIRE when their rights were in jeopardy.

Hear their stories — and how we're fighting back — by subscribing today.

First Amendment Library:
Michael E. Schoeman


The question is whether petitioners may be permanently enjoined from publishing nonpersonalized investment advice and commentary in securities newsletters because they are not registered as investment advisers under § 203(c) of the Investment Advisers Act of 1940 (Act), 54 Stat. 850, 15 U. S. C. § 80b-3(c).