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Business Wire 17-Mar-2023 12:32 PM
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Fox Corporation (NASDAQ:FOX, FOXA))) resulting from allegations that Fox may have issued materially misleading business information to the investing public. The prospective class includes those who purchased Fox call options and/or sold put options.
SO WHAT: If you purchased Fox securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=13327 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
WHAT IS THIS ABOUT: In the wake of the 2020 U.S. Presidential Election, Dominion Voting Systems sued Fox for defamation. Dominion's lawsuit alleges that Fox defamed Dominion's businesses by endorsing, repeating or broadcasting a series of "verifiably false yet devastating lies about Dominion." Dominion claims that various statements that were made on Fox News, including that Dominion committed election fraud by rigging the 2020 election, that Dominion's software and algorithms manipulated vote counts in the 2020 election, that Dominion was founded for the purpose of rigging elections, and that Dominion paid kickbacks to government officials who used its machines, were defamatory and false. Dominion seeks over $1.6 billion in damages.
Beginning in February 2023, specific details emerged of internal discussions at Fox in the wake of the 2020 election, revealing that Fox's senior leaders understood that claims to the effect that Dominion had rigged the 2020 election were false. As a consequence, Fox faces significant potential legal liability.
As a result of ongoing revelations about Fox's legal exposure in the Dominion lawsuit, Fox's Class A stock has declined from a closing price of $37.03 on February 17, 2023 to a closing price of $32.52 on March 15, 2023, a 12.17% decline. Fox's Class B stock has declined from a closing price of $34.22 on February 17, 2023 to a closing price of $29.83 on March 15, 2023, a 12.8% decline.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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