Hedge Funds

Phil Goldstein's First Amendment case heads to Massachusetts' highest court


The firm's case has now skipped over the intermediate appellate court to appear before Massachusetts' highest judicial body.

The highest court in Massachusetts is set to decide whether restrictions on hedge fund advertising are a violation of the First Amendment.

Phil Goldstein, founder of Saddle Brook, N.J. activist hedge fund Bulldog Investors, who famously overturned the Securities and Exchange Commission's attempt to force registration on hedge funds, is now fighting William Galvin, the Secretary of State of Massachusetts, over his right to operate a Web site for Bulldog that he made available to the public in theoretical violation of the private placement restrictions against advertising.

Goldstein has argued that these restrictions violate his First Amendment right to free speech and countersued the state