The lawsuit represents the most serious shareholder legal action taken against Fox since it settled a historic defamation lawsuit brought by election technology company Dominion Voting Systems earl…
New York City’s pension funds and the state of Oregon took legal action on Tuesday against Fox Corporation, alleging in a lawsuit that the Fox News parent company failed shareholders by allowing the right-wing channel to recklessly spread lies about the 2020 election that opened it up to a pair of historic defamation cases.
The lawsuit represents the most serious shareholder legal action taken against Fox since it settled a historic defamation lawsuit brought by election technology company Dominion Voting Systems earlier this year for a record $787.5 million. Fox, which has maintained it is proud of its dishonest 2020 election coverage, still faces an even larger, $2.7 billion lawsuit from election technology company Smartmatic.
“The board of Fox Corporation took a massive risk in pursuing profits by perpetuating and peddling known falsehoods,” Ellen Rosenblum, attorney general of Oregon, said in a separate statement. “The directors’ choices exposed themselves and the company to liability and exposed their shareholders to significant risks. That is the crux of our lawsuit, and we look forward to making our case in court.”The lawsuit did not specify a damages figure.
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