On 13 October 2016, a Portuguese Judge dismissed criminal proceedings against Dr Peter Boone clearing him of all wrongdoing.
Today’s decision is a victory for free speech in Portugal. It gives financial experts reassurance that they may continue to air their views on Portugal’s economic policy candidly and freely without fear of prosecution.
Over the course of this five year investigation Dr Boone has consistently demonstrated the utter implausibility and indeed impossibility of the Prosecution case.
The Prosecution argued that Dr Boone’s economic policy blogs were intended as investment recommendations that were capable of moving markets, and that Dr Boone’s disclaimer was somehow improper. The court accepted today that his disclaimer was in keeping with internationally recognised best practice and that, in any event, Dr Boone’s short opinion blogs based on publicly available data were incapable of moving markets.
Commenting on the decision, Dr Peter Boone said:
“I am very pleased with today’s decision. The past five years have been a nightmare for my family and me. I pride myself on conducting all my work with utmost integrity and delighted to see this recognised by the courts. I would like to thank my family, friends and legal team for their support throughout the case.
“This is fantastic news not just for me but for financial analysts, investors and markets around the world. Honest and free debate on key economic policy issues is in everyone’s interests – it is fundamental to democracy and prosperity.”
Peter Boone was represented by Ben Rose and Charles Kuhn, of Hickman & Rose, in the UK and by Francisco Proença de Carvalho and Daniel Alves Bento, of Uría Menéndez, in Portugal.
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