SALEM, Ore. (KOIN) — Oregon Attorney General Ellen Rosenblum filed a lawsuit against Fox News, saying that the company put investors at risk, including the state.
Rosenblum says that the state has more than $5 million invested in shares of the company and that Fox breached its fiduciary duty by ignoring the risks of spreading misinformation.
She also claims that Fox made no good-faith efforts to monitor the risk of defamation lawsuits, unlike other major media organizations.
“The board of Fox Corporation took a massive risk in pursuing profits by perpetuating and peddling known falsehoods,” Rosenblum said. “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.”
“Our responsibility to safeguard the retirement investments of Oregon’s public servants is of the utmost importance,” State Treasurer Tobias Read added. “We aim to hold Fox’s board of directors, including Rupert and Lachlan Murdoch, accountable for their decisions. We believe that this action is necessary in fulfilling our obligation to our beneficiaries.”
The Dominion settlement
Fox News agreed in April 2023 to pay Dominion Voting Systems nearly $800 million to avert a trial in the voting machine company’s lawsuit that would have exposed how the network promoted lies about the 2020 presidential election.
The stunning settlement emerged just as opening statements were supposed to begin, abruptly ending a case that had embarrassed Fox News over several months.
“The truth matters. Lies have consequences,” Dominion lawyer Justin Nelson told reporters outside a Delaware courthouse after Superior Court Judge Eric Davis announced the deal.