Last week, the Financial Times filed a somewhat embarrassing copyright infringement lawsuit against Steve Schwarzman‘s Blackstone Group for giving out one FT online subscription log-in to many of its employees. But apparently, the company’s New York office wasn’t the culprit, but rather eight renegade employees at the London office who decided to share one log-in.
“This all started several months ago when the FT brought to our attention the multiple uses of a single password in our London office,” a source at the Blackstone Group’s New York office told the Daily Transom. “We started negotiations with FT about how much we owe them for this, but then they just filed a lawsuit!”
We’re told that the New York office actually has 63 paid subscriptions, and the senior-level individual blamed for the misuse by the court papers filed by FT was not Mr. Schwartzman.
“It’s just untrue that senior people were involved,” said the Blackstone source. “This was a junior guy in our London office. New York office had nothing to with it.”