SAN FRANCISCO, March 29, 2023 (GLOBE NEWSWIRE) — Hagens Berman urges Fox Corporation (NASDAQ: FOX, FOXA) investors who suffered substantial losses to submit your losses now.
Fox Corporation (FOX, FOXA) Investigations:
The investigation focuses on Fox’s admittedly knowing false news reporting and the failure to disclose the risk to Fox’s business if its knowledge of false reporting became known, including the likelihood of potential liability of the Company by virtue of the network’s producers, stars and executives knowingly broadcasting false claims concerning the Dominion’s voting systems.
In connection with the 2020 US Presidential Election, Fox repeatedly endorsed and broadcast a series of reports about Dominion Voting Systems, claiming that Dominion committed election fraud by rigging the election. On Mar. 26, 2021, Dominion sued Fox for defamation seeking over $1.6 billion in damages. For its part, Fox has repeatedly maintained that Dominion’s claims lack merit.
However, on Feb. 17, 2023, the Wall StreetJournal reported that court filings made public on Feb. 16 revealed that top Fox News anchors and executives privately raised concerns about false claims of voter fraud made on the air by network hosts and guests in connection with the 2020 election. According to the WSJ, Fox’s Chairman (Rupert Murdoch) expressed skepticism about a Nov. 19, 2020 press conference that Fox aired (in which Rudy Giuliani claimed that voter fraud occurred in multiple states as part of a national conspiracy), calling it “’really crazy stuff.’”
Most recently, on Mar. 29, 2023, NBC News reported that 10 days after the 2020 election Fox’s so-called Brain Room looked into conspiracy theories that Dominion rigged the election against Donald Trump. According to NBC“[t]the fact checking and research division of the network came back with a clear decision: Those claims were false. But the misinformation went on the air anyway.”
These events have driven the price of Fox shares significantly lower.
“We’re focused on whether Fox knowingly published false news and the impact on its business and reputation,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Fox Corporation and have substantial losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Fox Corporation should consider their options to assist in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases of achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895