Oregon’s attorney general announced on Monday she has begun investigating the board of directors of Fox Corp. for breaching its fiduciary duties by allowing Fox News to broadcast false claims about the 2020 presidential election — claims that cost the broadcaster almost $800 million in a lawsuit.
Also joining the investigation is Oregon State Treasurer Tobias Read, who oversees the Oregon Public Employees Retirement Fund, which owns more than 250,000 shares of Fox stock. Both Attorney General Ellen Rosenblum and Read are Democrats.
“Treasurer Read and I believe that Fox’s board of directors breached its fiduciary duties by allowing Fox News to broadcast false claims that Dominion and Smartmatic rigged the 2020 presidential election,” Rosenblum said. “We hope to hold the board accountable and protect the long-term value of Oregon’s investment in Fox Corp.”
Brian Nick, chief communications officer and executive vice president of Fox Corp., declined to comment on Rosenblum's announcement.
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In April, Fox News agreed to pay Dominion Voting Systems $787.5 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.
Dominion had argued that the news outlet owned by Fox Corp. damaged Dominion’s reputation by peddling phony conspiracy theories that claimed its equipment switched votes from former President Donald Trump to Democrat Joe Biden.
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