Fox Must Face Smartmatic’s $2.7 Billion Defamation Lawsuit, Court Rules
Published On Jan 9, 2025, 6:43 PM
Smartmatic, a voting technology company, is advancing its $2.7 billion defamation lawsuit against Fox Corporation after a New York State appeals court denied Fox's request to dismiss the case. The lawsuit stems from Fox News promoting false claims of vote-rigging related to the 2020 Presidential election. This development follows a similar settlement by Fox in 2023 with Dominion Voting Systems for $787.5 million. Fox Corporation intends to defend itself in court, claiming the lawsuit's damages are unrealistic and impinge on First Amendment rights.
Stock Forecasts
FOXA
Negative
The ongoing lawsuit against Fox Corporation poses a significant financial risk, especially after the substantial settlement with Dominion Voting Systems. The court's decision to allow the trial to proceed indicates potential further liabilities that could impact investor confidence and stock performance negatively.
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