Wainwright Securities v. Wall Street Transcript Corp (1977) was a case in which a weekly newspaper was found to have infringed on the copyright of a publisher of reports that analyzed corporate finances, risks and opportunities.

[1] Wainwright Securities, dating back to 1868, was in the business of preparing in-depth analyses of large corporations for use by major investors such as banks, insurance companies and mutual funds.

[1] The district court found that there was sufficient evidence to prove irreparable injury against Wainwright, since potential customers might choose not to purchase the reports if they felt that the essential findings were available in the newspaper.

The court defined the fair use doctrine as "a means of balancing the exclusive rights of a copyright holder with the public's interest in dissemination of information affecting areas of universal concern, such as art, science and industry".

The court also considered the defendants' claim that the reports were financial news, with publication of the extracts covered under the First Amendment to the United States Constitution, which protects Freedom of the press.