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DETAILS: Fox News' Rupert Murdoch Sued Again
Fox Corporation Chairman, Rupert Murdoch, is facing another lawsuit, this time from a shareholder who alleges that Fox News' coverage of the 2020 election breached the company's ethical standards, according to a report.
The lawsuit, filed by Robert Schwarz in Delaware Chancery Court, claims that Murdoch and other board members failed in their fiduciary duties to shareholders by allowing Fox News to promote baseless conspiracy theories about the election results.
Schwarz argues that the decision to prioritize ratings over accurate reporting has damaged the company's reputation and exposed it to litigation. The lawsuit cites two defamation cases with combined damages of over $4 billion filed against Fox News as evidence of this.
The lawsuit builds on evidence made public in Dominion Voting Systems' $1.6 billion defamation lawsuit against Fox News and Fox Corp. It reveals that many at Fox News knew the election claims were false but allowed their continued broadcast.
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“FOX knew — from the Board on down — that Fox News was reporting false and dangerous misinformation about the 2020 Presidential election, but FOX was more concerned about short-term ratings and market share than the long-term damages of its failure to tell the truth,” the filing states.
This latest legal challenge comes at a difficult time for Fox Corporation, which has already faced billion-dollar lawsuits from former employees and guests. The company's executives and employees have been accused of fostering a toxic workplace culture that enabled sexual harassment and discrimination.
The shareholder lawsuit is another blow for Murdoch and Fox Corporation, which may face further legal action as more evidence emerges about its coverage of the 2020 election.
Regardless of the monetary outcome of this suit and others, the reputation of Fox News has already been tarnished quite a bit.