I'm not trying to argue that Bloomberg did anything illegal, so lets stay away from that red herring. I'm talking about whether their action was morally right; granted, morality and civic duty is a much more ambiguous topic, and I'm open to the possibility that my position is incorrect here.

To make an analogy: What if a newspaper was given sensitive personal information about someone that was legal to publish, but could have damaging effects to that person and the population as a whole if published too soon? Do newspapers have a civic responsibility to hold off on publishing information that would only be damaging to everyone (at least until it's safe to do so)?