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Oregon SUES FOX! [1]

['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.']

Date: 2023-09-13

Well, two good news stories in one day is a first for me! But I had to share this one — the State of Oregon is suing FOX News! As often happens it’s mixed good news… the fact that thousands of dollars of state pension funds were invested in FOX is definitely bad news, but the state now has standing to sue FOX for endangering their money by just lying continually. A very convoluted way to hold FOX accountable, to be sure, but whatever works.

According to Julia Shumway’s report in The Oregon Capital Chronicle:

Oregon Attorney General Ellen Rosenblum is suing Fox Corporation, alleging that false claims about the 2020 election broadcast on Fox News caused losses to the state’s employee retirement funds. Rosenblum and Treasurer Tobias Read, who oversees state investment accounts, began investigating Fox and preparing for a lawsuit in June. Their suit, filed Tuesday in the Delaware Chancery Court alongside the New York City Pension Funds, alleges that Fox knew its employees were broadcasting political claims without regard for truth and made no good-faith efforts to monitor or mitigate defamation risk, unlike almost every other news organization in the country. “The board of Fox Corporation took a massive risk in pursuing profits by perpetuating and peddling known falsehoods,” Rosenblum said in a 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.” ...As of December 2022, about $11.7 million of Oregon’s $92 billion in state retirement funds were invested with Fox Corporation. That figure dipped substantially over the past several months, and Oregon now holds shares of Fox stocks worth approximately $5.2 million, according to the Attorney General’s Office. ...Read said in a statement that the suit is necessary to fulfill the state’s obligations to retired public employees.

So yet another path to making FOX pay for their egregious lies, and perhaps make them think twice about repeating that trick in 2024.

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[1] Url: https://www.dailykos.com/stories/2023/9/13/2193066/-Oregon-SUES-FOX

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