Setback for Thomson Reuters in whistle-blower case

US District Judge Shira Scheindlin in Manhattan declined to dismiss the case, which was filed in April. Former salesman Mark Rosenblum claims he was fired in retaliation for telling US authorities that the company gave some customers an advantage by releasing the Thomson Reuters University of Michigan Surveys of Consumers to them first.

Thomson Reuters released the data to high-frequency traders two seconds before other subscribers, according to Rosenblum’s complaint. The public received the data five minutes after subscribers, he said. The arrangement gave an illegal advantage to the traders who got the data first, according to Rosenblum.

Thomson Reuters in July suspended its early release of the survey data as part of an agreement with New York Attorney General Eric Schneiderman, who was investigating the matter.

A spokesman for Thomson Reuters said the company was disappointed with the court’s decision. “The company has policies in place to ensure that all terminations are handled fairly and in accordance with applicable law,” said spokesman Lemuel Brewster.

“This decision is not a ruling on the merits of the case, and we look forward to presenting the facts relating to the plaintiff’s claims as this litigation unfolds. We remain confident that the claims asserted against us are baseless, and we will continue to vigorously defend ourselves in court.” ■