6 Wash. J. L. Tech. & Arts 49 (2010-2011)
Communications Decency Act Provides No Safe Harbor against Antifraud Liability for Hyperlinks to Third-Party Context under the Securities and Exchange Act

handle is hein.journals/washjolta6 and id is 51 raw text is: WASHINGTON JOURNAL OF LAW, TECHNOLOGY & ARTS
VOLUME 6, ISSUE 1 SUMMER 2010
COMMUNICATIONS DECENCY ACT PROVIDES No SAFE
HARBOR AGAINST ANTIFRAUD LIABILITY FOR HYPERLINKS
TO THIRD-PARTY CONTENT UNDER THE SECURITIES AND
EXCHANGE ACT
Sheri Wardwell
C Sheri Wardwell
CITE AS: 6 WASH J.L. TECH. & ARTS 49 (2010)
https://digital.lib.washington.edu/dspace-law/handle/1 773.1/451
ABSTRACT
In 2008, the U.S. Securities and Exchange Commission (SEC)
released interpretive guidelines regarding antifraud liability for
statements and disclosures made on company Web sites. The SEC
noted that a company may incur both criminal and civil liability
under section 10(b) of the Securities Exchange Act and Rule 1 Ob-5 for
hyperlinks to third-party content. However, the Communications
Decency Act, 47 U.S.C.  230(c), expressly preempts civil liability for
interactive computer service providers that post hyperlinks to third-
party content on their Web sites. This Article examines whether
section 230 immunizes companies from civil liability for hyperlinks to
third-party content despite the SEC's interpretive guidelines imposing
antifraud liability. This Article concludes that companies would likely
be considered information content providers under section 230 and
therefore outside the scope of the safe harbor provision for interactive
computer service providers.
. Sheri Wardwell, University of Washington School of Law, Class of 2010.
Thank you Professor Jane K. Winn of the University of Washington School of Law
for offering valuable feedback. Also, thank you to James Evans, of Fenwick & West
LLP, for his thoughtful review of this Article.

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