Standing Up for What's Right?: 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 massive defamation cases. The lawsuit accused the media company of having chosen to “invite robust defamation claims, with potentially huge financial liability and potentially larger business repercussions, rather than disappoint viewers of Fox News." A Fox Corporation spokesperson declined comment. Here's my full story.
http://www.cnn.com/2023/09/12/media/fox-corporation-new-york-city-oregon-lawsuit/index.html?
🔎 Zooming in: 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. Legal and corporate governance experts have long warned that Fox would be subject to shareholder lawsuits for irresponsible management decisions that left it vulnerable to legal action.
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