NATIONAL NEWS

Oregon is invested in Fox Corp. and is investigating its board over bogus election fraud claims

Jun 5, 2023, 4:59 PM | Updated: 5:26 pm

SALEM, Ore. (AP) — Oregon’s attorney general announced 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.”

The head of Fox’s corporate communications did not immediately respond to a request for comment on the announcement.

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.

Lachlan Murdoch, chair and CEO of Fox Corp., said when the settlement was announced that it avoids “the acrimony of a divisive trial and a multiyear appeal process, a decision clearly in the best interests of the company and its shareholders.”

The Oregon Department of Justice said the investigation will explore leading a lawsuit against Fox’s management on behalf of the company’s harmed investors, which include Oregon’s public employees.

“Fox directors and senior officers manage the company on behalf of its investors,” the department said in a statement. “They have a duty to manage the company competently, honestly, and in a manner that prevents foreseeable and catastrophic financial harm like that inflicted upon company’s shareholders by the Dominion and Smartmatic suits.”

“We invest for Oregon’s public servants and we aim to hold Fox’s board of directors, including Rupert and Lachlan Murdoch, accountable for their decisions,” said Read, who is a member of the Oregon Investment Council, which sets state investment policy. “Investigating Fox’s books and records is a necessary and significant step in fulfilling our obligation to our beneficiaries.”

As of May 26, the Oregon pension fund owned 168,075 Class A common stock shares and 92,850 Class B shares of Fox stock, said Roy Kaufmann, Rosenblum’s spokesperson.

Another voting sued Fox for $1.6 billion.

National News

Associated Press

Older Florida couple found slain in their home; police believe killer stole their car

FORT LAUDERDALE, Fla. (AP) — Florida police are seeking the public’s help in finding a car stolen from an older couple who were found shot to death in their home. Fort Lauderdale Police on Thursday reissued an all-points bulletin for a red 2014 Ford Fusion that belonged to Major Melvin, 89, and his 87-year-old wife, […]

15 minutes ago

Associated Press

For-profit school accused of preying on Black students reaches $28.5 million settlement

A for-profit college accused of targeting women and Black students with false advertising about how long it would take to complete a degree, then extracting millions of dollars in extra tuition payments, agreed to a $28.5 million settlement announced Thursday. The class-action lawsuit alleged that Walden University generated millions of dollars in excess tuition and […]

50 minutes ago

Associated Press

Michigan GOP lawmaker claims that buses carrying March Madness teams are ‘illegal invaders’

FARMINGTON HILLS, Mich. (AP) — A right-wing Michigan state lawmaker who has been tied to former President Donald Trump and his election denials is being widely criticized after making claims that buses carrying college athletes to Detroit for March Madness were immigrant “invaders” being shuttled into the city illegally. Michigan state House Rep. Matt Maddock […]

1 hour ago

Associated Press

Dashcam video shows deadly Texas school bus crash after cement truck veers into oncoming lane

AUSTIN, Texas (AP) — Dash camera video released Thursday by a Texas school district shows the moment a cement truck veered into oncoming traffic, hitting a school bus carrying more than 40 pre-K students returning from a zoo field trip. The deadly collision on March 22 sends the bus rolling over on a rural highway […]

2 hours ago

Associated Press

Truck driver convicted of vehicular homicide for 2022 crash that killed 5 in Colorado

DENVER (AP) — A Denver truck driver has been convicted of five counts of vehicular homicide for crashing a semi tractor-trailer into a sport utility vehicle carrying a Wyoming family in June 2022, killing all five of them. A Weld County jury also convicted Jesus Puebla of five other counts on Wednesday, including reckless driving […]

3 hours ago

Associated Press

Last coal-burning power plant in New England set to close in a win for environmentalists

BOSTON (AP) — The last coal-fired power plant in New England, which had been the focus of a lawsuit and protests, is set to close in a victory for environmentalists. Granite Shore Power said Wednesday it reached an agreement with the Environmental Protection Agency to close the Merrimack Station in New Hampshire by June 2028. […]

5 hours ago

Oregon is invested in Fox Corp. and is investigating its board over bogus election fraud claims