DOJ Sought Phone Records of NYT Reporters' Relatives, Escalating Leak Probe
NYT sits 49% above its 52-week low of $51.03.
Summary
The Justice Department subpoenaed phone records of New York Times reporters' relatives, including a mother and spouses, starting July 10 — the same day reporters were subpoenaed. The government sought records dating back to January 1, which the Times argues shows a broad fishing expedition beyond the specific national security leak. This follows the July 11 subpoenas served on reporters and the Times' July 16 motion to quash. The phone record subpoenas, served with a nondisclosure order from a different judge, were disclosed to the Times on July 17, and the company has amended its motion to block them. A hearing is set for Thursday. The escalation raises First Amendment and press freedom concerns, potentially increasing legal costs and reputational risk for the Times.
At the time of this announcement, NYT was trading at $75.82 on NYSE in the Trade & Services sector, with a market capitalization of approximately $12.3B. The 52-week trading range was $51.03 to $87.10. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.