The Swiss company Swatch makes stylish watches but takes itself Way Too Seriously.

A couple of weeks ago, Swatch lost an appeal over whether the maker of low-end, cutie-pie Swap watches infringed the high-end, hoity-toity Swatch trademark. "Swiss Swatch Swings at Swap, Whiffs".

This week, Swatch lost an appeal having to do with an equally goofy copyright infringement claim.

Swatch sued Bloomberg for posting on its Bloomberg Professional site a bootleg copy of a Swatch earnings call. The district court held that the use of the audio recording fit within the "fair use" doctrine, which provides a defense to claims of copyright infringement. The Second Circuit went through the fair use factors and agreed with the district court, affirming summary judgment for Bloomberg. Swatch Group Mgmt. Services Ltd. v. Bloomberg L.P., No. 12-2412-cv (2d Cir. Jan. 27, 2014).