The Court of Appeal upheld an injunction preventing the publication of confidential and commercially sensitive information, finding the public interest weighed in favor of protecting confidentiality over disclosure. Brevan Howard Asset Management (BHAM), a leading European Hedge Fund which manages numerous public pension plans, brought the action against Reuters to halt publication of articles based on leaked confidential documents. Reuter’s argued that the public had a right to know the economic information and that the injunction significantly infringed upon its journalistic rights and responsibilities. The Court found the lower court had properly conducted the balancing and proportionality exercises to determine the injunction was a “proportionate and a necessary restriction” on Reuter’s Article 10 right to freedom of expression and that the public interest in publication would likely not meet the necessary threshold to justify a breach of confidence. The Court concurred that the risks in disclosure were too great due to BHAM’s position in the financial markets managing tens of millions of dollars and that a breach of confidentiality could have a chilling effect on BHAM’s transparency with its investors.