Updated with Galvin’s decision. (full decision at the bottom of the post.)
Phil Goldstein, of hedge fund Bulldog Investors, has lost his free speech case against Massachusetts Secretary of State William Galvin.
The judge ruled that Bulldog couldn’t allow unqualified investors to access information on its Web site.
“The ruling is unfortunate but we expected it,” Goldstein tells us. “I don’t think the judge really understands what the first amendment is about, so we’re going through an appeal.”
Goldstein is well-known for the case he brought against the SEC to stop hedge fund registration.
But hey, not all’s bad for Goldstein — his fund is up 27% for the year, he said.