Judge backs Galvin in case against hedge fund

Boston Herald – Secretary of State William Galvin’s office didn’t violate a well-known hedge fund manager’s free-speech rights when the state cracked down on the fund’s use of the Internet to advertise to nonqualified investors.

Suffolk Superior Court Judge Judith Fabricant rejected the claims of Phillip Goldstein that his First Amendments right were violated by Galvin’s securities division.

Fabricant effectively said that case law allows some restrictions on commercial speech if it’s for a greater good promoted by the state, such as securities regulation.

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