Printer Friendly

WALL STREET JOURNAL ARTICLE OF APRIL 27 'PATENTLY MISLEADING,' HARRY L. FREEMAN ASSERTS

 WALL STREET JOURNAL ARTICLE OF APRIL 27 'PATENTLY MISLEADING,'
 HARRY L. FREEMAN ASSERTS


Growing Conflict of Interest Between Journal Writers 'Reporting' the

'News' and Seeking Lucrative Book Publishing Contracts Raised by
 Institutional Investor and Washington Post Articles
 WASHINGTON, April 27 /PRNewswire/ -- Harry L. Freeman, a former American Express Company executive vice president who recently filed a $50 million libel suit against Dow Jones & Company, publisher of The Wall Street Journal and a Journal reporter, Bryan Burrough (author of the upcoming book "Vendetta"), today asserted that comments attributed to him in a feature article published in that newspaper article today have been taken out of context and are "patently misleading."
 "First, as I have previously stated, I did not authoriise." Continued Fre em : "I feel it particularly important to underscore the facts, in light of the Journal's attempt to 'sensationalize' my role in the story.
 "Second, some months ago I consented to an interview by Bryan Burrough, the Journal reporter who wrote a major story about an alleged 'campaign' by American Express Company against Edmond Safra in September 1990. My purpose was to inform Burrough of the facts so he could accurately report the news. It is apparent in today's Journal article that the interview was not productive in that regard.
 "Third, I told Burrough that James D. Robinson III, American Express chairman and CEO, did authorize me to look into certain alleged activities of Mr. Safra raised in a New York Times article of December 1986. Concurrently, Mr. Robinson also asked the American Express legal department to work alongside me to determine whether Mr. Safra had violated his non-compete agreement after he left American Express Company. What Robinson appropriately authorized, and what I conducted, was an attempt to see if there was evidence to support action by the American Express legal department. We found none. Hence, no 'smear campaign' was ever authorized by either Robinson or me.
 "Unfortunately, today's Journal article draws inferences that I instigated or knew of a 'smear campaign' against Edmond Safra; these are not warranted or supported by the facts, as my lawsuit will prove."
 Freeman also underscored what he believes to be a growing popular and media opinion that The Wall Street Journal has crossed a dangerous line in terms of aggressively promoting books written by its reporters under big money contracts. Today's lengthy excerpt of Journal reporter Burrough's upcoming book, "Vendetta," physically juxtaposed with a news insert written by a "staff reporter" supports the growing view that the paper suffers from a distinct conflict of interest. "The mixing of promotional activities for a reporter's book and concurrent, supposedly 'objective' reporting strikes many in the business world and a growing number of observers of journalism, as irresponsible," stated Freeman.
 This theme is echoed in a feature article published in the April 1992 issue of Institutional Investor, titled "The Temptations of Jim Stewart -- In pursuit of glory and a best-seller, did the author of 'Den of Thieves' sacrifice impartiality and fairness?" Along similar lines, The Washington Post, in its April 19 issue, describes a forthcoming book titled, "The Power and the Money: Inside the Wall Street Journal." According to the book's publisher, Carol Publishing Group, the author, Francis X. Dealy Jr., charges that "Reporters are more interested in securing million-dollar book contracts than in reporting the news for $65,000 salaries."
 "This practice by the Journal," stated Freeman, "under executive editor Norman Pearlstine, has a real relationship to issues in my lawsuit concerning the environment in which Burrough and his editors, we contend, recklessly disregarded the truth about my actions and created a fictional villain named 'Harry Freeman' to give a dramatic story line to an article which was really the first draft of the book by Burrough, now about to be released.
 "I believe this type of practice," stated Freeman, "lowers a reporter's objectivity and in my opinion led to my being 'trashed' by The Wall Street Journal." Concluded Mr. Freeman, "Now, more than ever, I feel determined to press my suit as vigorously as possible.
 -0- 4/27/92
 /CONTACT: Paul D. Feldman for Harry L. Freeman, 301-770-9254/ CO: ST: District of Columbia IN: SU:


MH -- DC036 -- 3301 04/27/92 15:27 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 27, 1992
Words:700
Previous Article:HEATH PETRA RESOURCES ANNOUNCES THE ADDITION OF FUTURES TRADER
Next Article:LEADERS OF HIGH SPEED RAIL/MAGLEV INDUSTRY TO GATHER FOR INTERNATIONAL CONVENTION


Related Articles
FORMER AMERICAN EXPRESS EXECUTIVE SUES WALL STREET JOURNAL PUBLISHER AND REPORTER FOR $50 MILLION OF DAMAGES FOR DEFAMATION
HARPERCOLLINS RELEASES 'VENDETTA' FOR IMMEDIATE PUBLICATION
CRITICAL CARE AMERICA COMMENTS ON WALL STREET JOURNAL ARTICLE
FREEMAN ASSERTS VINDICATION THROUGH POOR SALES OF 'VENDETTA,' DEPARTURES OF KEY STAFF AT THE JOURNAL; $50 MILLION SUIT TERMINATED
Wolf Haldenstein Adler Freeman & Herz LLP Announces Deadline for Class Periods in Elan Corporation PLC Shareholder Lawsuit.
Wall Street Journal moving to midtown?
Shareholder Class Action Filed Against Omnicom Group, Inc. By The Law Firm of Schiffrin & Barroway, LLP.
Wolf Haldenstein Adler Freeman and Herz LLP Commences Omnicom Group Class Action.
Wall Street Journal publishes letter from Frank Giustra that corrects misinformation and misleading innuendoes.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters