49,156 views May 10, 2023
Fox News was recently hit with another lawsuit over their lies around the 2020 election, but this one managed to fly under the radar for the most part. The lawsuit was filed against the executives at the network by shareholders just two days after the massive settlement with Dominion Voting Systems was reached. The shareholders allege that the executives, including Rupert and Lachlan Murdoch, did not do enough to stop the lies on the network, which ended up costing the shareholders a lot of money. Farron Cousins explains what happened.
*This transcript was auto-generated. Please excuse any typos. I spend all day, every day combing through the news, going to every possible website I can, looking for stories, paying attention to what's happening in the world, you know, for, for this channel, for the Ring of Fire Channel, for America's lawyer, for the Ring of Fire podcast. I got a lot of lot of things happening. So I'm constantly reading the news. But I say that to tell you this, every now and then I miss something. A story that is super important, slips through the cracks. And this is one of those stories because this is not a breaking news story. This is a story that actually came out on April 20th, two days after Fox News settled their Dominion Voting System's defamation lawsuit for 787 million. Two days after that settlement was reached, a shareholder at Fox News filed a lawsuit against four Fox News executives, including owner Rupert Murdoch and his son Fox President Locklin Murdoch, for screwing over investors. Now, this is a big one because according to this lawsuit, the lies told by the network that were allowed to be spread by those executives, again, including Rupert Murdoch and Lockland Murdoch, cost these shareholders potentially millions of dollars. They cost them Tucker Carlson, which in turn could cost the network millions of more dollars. It's gonna cost them millions of more dollars in the Smart Matic lawsuit. All because this lawsuit says they allowed these lies to go out on the air that ultimately cost 'em all this money. Now, typically these shareholder lawsuits are very difficult to win. But in this particular instance, what has already been revealed from the Dominion Voting Systems lawsuit is going to work in the favor of the plaintiffs here. Because what happened was we have deposition video of Rupert Murdoch himself saying, I wish, I wish we would've stepped in sooner to stop the lies. And then other Fox News executives admitting that, well, it was good for business at the time. So you have 'em in a deposition, a sworn deposition saying we should have done it, but we chose not to because we were making money off it at the time. I don't wanna say case closed at this point, but it kind of seems like case closed, right? When you have those executives making these decisions to not step in knowing full well that their network is spreading lies that could eventually get you sued and they choose not to, then the resulting losses are their fault. Now The liability here is obvious. Yes, Rupert Murdoch, Locklin Murdoch, the other executives did allow this to happen. The tricky part for this lawsuit, because again, like you already know who's responsible and you know they've admitted it. So that part is easy. The question is, are they responsible for the later financial losses? Did they know they would get sued? Now I'd like to think, yeah, they knew it, but they couldn't have guessed the extent to which they'd be sued by Dominion and smart mad. They'd never could have guessed that they'd have to pay out 787 million. So this lawsuit is not a slam dunk. It may seem like it, and I think it's got a a really good chance of being successful. But at the end of the day, if you can't prove that these people made these decisions knowing it was going to cost the company money, then you don't have a winning case. And right now all we have in terms of the evidence is that yeah, they allowed the lies to go on the air, but they did that so that the shareholders could make more money, not less money. So this is an interesting one, and again, this suit was filed weeks ago, two days after the settlement. It's one I missed and I'm that I missed it cuz this is a big one to me. So not only does Fox News still have to face the Smart Mad lawsuit, which I guarantee is gonna end up bolstering this shareholder lawsuit, but then after that, then they're gonna have to go to court and face the shareholder lawsuit. So lots of bad things happening to Fox News, including the fact that they are losing viewers left and right. So it's a bad time to be Fox News and it's probably gonna get worse as the month drag on