Fox Corp shareholders are demanding company records that may show whether directors and executives properly oversaw Fox News' coverage of former President Donald Trump's election-rigging claims, sources told Reuters, in what could be a prelude to lawsuits seeking to make directors liable for costs.
Investors are using provisions in Delaware corporate law to demand internal Fox records to investigate how Fox's leaders acted as its Fox News network aired segments on Trump's false claims that he lost the 2020 presidential election due to voter fraud, two sources confirmed.
In moves not previously reported, shareholders are looking for records such as board minutes, emails and texts that may contain evidence that Fox directors and executives were derelict by allowing the network to air the false claims. The shareholders could use these as well as evidence presented in other lawsuits to build a case for the leaders to be held personally liable for costs from two defamation cases by voting-machine companies over the Fox coverage.
The sources requested anonymity to discuss the demands, which are not public, and declined to provide further details. It was not clear how many Fox shareholders are pursuing information demands.One individual shareholder has already sued Fox Corp Chairman Rupert Murdoch, his son and Chief Executive Lachlan Murdoch and three other directors, alleging they breached their duties to the company by allowing Fox to perpetuate Trump's false claims.
Two voting technology companies have sued Fox for defamation over its reports that their machines enabled voter fraud. They are seeking a combined $4.3 billion in damages, and costs related to the lawsuits helped increase Fox's expenses by $54 million in the second half of 2022.
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