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PENSION BLUES: Fox News targeted in Oregon AG probe

PENSION BLUES: Fox News targeted in Oregon AG probe

PENSION BLUES: Fox News targeted in Oregon AG probe

The Oregon Department of Justice will be exploring a potential lawsuit against the Fox Corporation on behalf of the “company’s harmed investors,” which include Oregon’s public employees.

The Beaver State’s Democratic Attorney General has opened an investigation into the board of directors of Fox Corp. for what she says is a breach of “fiduciary obligations” to its investors.

AG Ellen Rosenblum made the announcement on Monday in the wake of the Dominion lawsuit against Fox News which cost the disinfotainment network nearly $800 million.

Rosenblum stated that by the board allowing Fox News to knowingly broadcast false claims about the 2020 presidential election, investors in the Oregon Public Employees Retirement Fund lost money.

The Fund, which owns more than 250,000 shares of Fox stock, is overseen by Oregon State Treasurer Tobias Read, who has joined AG Rosenblum’s investigation.

“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,” said Rosenblum in a statement.

“We hope to hold the board accountable and protect the long-term value of Oregon’s investment in Fox Corp.”

While both the Attorney General and Read are Democrats, the case itself is non-partisan and focused on the money lost to Oregon residents.

“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.

Read, who’s also a member of the Oregon Investment Council, which sets state investment policy, said that investigating Fox’s books and records is “a necessary and significant step in fulfilling our obligation to our beneficiaries.”

In a statement released Monday, the Oregon DOJ released a statement about the combined effort.

“Fox directors and senior officers manage the company on behalf of its investors,” the statement says.

“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.”

Any accountability for the Murdochs that could cause them to lose even more money is fine by your contributor, an Oregon resident.

Come through, Smartmatic!

*THIS IS AN OPINION COLUMN THAT SOLELY REPRESENTS THE OPINIONS OF TARA DUBLIN. HOORAY FOR THE FREE PRESS!

Read more hot takes on Twitter @taradublinrocks & subscribe to her Substack.

Tara Dublin
Tara is a reported opinion columnist at Occupy Democrats. She's a woefully underappreciated and unrepresented writer currently shopping for a super cool novel that has nothing to do with politics while also fighting fascism on a daily. Follow her on Twitter @taradublinrocks

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