James Grant

Spy vs. Thief: Jim Grant Against Eaton Vance

jamesgrant1.jpgThere’s trouble brewing up in Bean Town. Boston Herald Business columnist Brett Arends reports today that Boston based Eaton Vance has filed a lawsuit in federal court claiming that spyware was implanted into their computers by Grant’s Interest Rate Observer, the must-see investment letter from the mind of James Grant.
It seems that Grant came to suspect that employees at Eaton Vance were printing out multiple copies of the newsletter and circulating them around the office, and decided to launch an investigation of his own.

According to a lawsuit just filed by Eaton Vance in federal court, Grant’s Web site planted spyware in their computers when they subscribed to his newsletter online. The spyware is able to track how many copies they were printing out.
Eaton Vance accuses Grant of “computer fraud,” “trespass” and “breach of faith” and is demanding $75,000 in damages.

Now you’re probably reading this and thinking, “Of course they were printing out multiple copies and sharing them around the office! Everyone does that!” Which is probably true. But you should probably file that under “lemming” and then go check your own computer for spyware.
Update: Still doubting that Grant’s Interest Rate Observer might be monitoring how you use their website? We spoke to GRO‘s attorney Tom Kirby, who pointed us to this language contained on the GRO subscription webpage: “THE SOFTWARE INSTALLED ON GRANT’S WEB SITE AND ON SUBSCRIBERS’ COMPUTERS ENABLES GRANT’S TO MONITOR SUBSCRIBERS’ COMPLIANCE WITH THESE TERMS OF USE, AND GRANT’S WILL DO SO.”
So, uhm, yeah. If you are a subscriber, you might want to quit being naughty.
Eaton Vance, Wall St. guru spar over ‘spyware,’ ‘fraud’ [Boston Herald]