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☆ Premarket stocks: The earnings recession is here. There could be worse to come
▼ + stars: | 2023-04-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Earnings reports are coming thick and fast, showing how companies fared in the first few months of the year. But even as earnings are forecast to slump to their lowest level in three years, investors fear the worst is yet to come. This left significant gaps in the forensic search for Nazi-linked records, the Senate Committee stated. AlixPartners, according to the Senate committee, has indicated it will conduct a “supplementary review” of Credit Suisse’s connections to ratlines amongst other allegations. Credit Suisse is Switzerland’s second-largest bank by assets and has spent the past few years plagued by scandals and large losses.

"Fox has admitted to telling lies about Dominion that caused enormous damage to my company, our employees and our customers," Poulos said in a statement. Shares of Fox Corp closed up slightly at $34 per share, but were down 1% in after-hours trading after the settlement amount was disclosed. Fox Corp CEO Lachlan Murdoch told Wall Street analysts in February that the company had about $4 billion cash on hand. [1/5] Dominion CEO John Poulos and lawyers speak to the media after Dominion Voting Systems and Fox settled a defamation lawsuit for $787.5 million, avoiding trial, over Fox's coverage of debunked election-rigging claims, in Delaware Superior Court, in Wilmington, Delaware, U.S. April 18, 2023. Fox Corp reported nearly $14 billion in annual revenue last year.

Members of the public wait to enter the Leonard Williams Justice Center where the Dominion Voting Systems defamation trial against FOX News is taking place on April 18 in Wilmington, Delaware. (Andrew Caballero-Reynolds/AFP/Getty Images)The court is back in session after a lunch break and opening statements are expected to begin soon in the historic defamation lawsuit brought by election technology company Dominion Voting Systems against Fox News. Here’s what you need to know about the high-stakes case:Why is Dominion suing Fox News? The company alleges that people at Fox News acted with actual malice and "recklessly disregarded the truth" when they spread this disinformation about Dominion. According to Dominion’s theory of the case, Fox promoted these election conspiracy theories because "the lies were good for Fox’s business."

A Fox victory — after it limped into trial amid a series of legal setbacks — would be a major triumph for the network. “In the coming weeks, we will prove Fox spread lies causing enormous damage to Dominion. We look forward to trial,” a Dominion spokesperson said in a statement on the eve of trial. Pretrial dramaThus far, Fox News has faced an uphill battle in court, as the case careened toward trial. The outcome of the trial, however, is not likely to dramatically change the dishonest way in which Fox News operates.

A person walks by Fox News signage posted on the News Corporation building in New York City, April 12, 2023WILMINGTON, Del. — Opening arguments were delayed Tuesday in the Dominion Voting Systems' defamation lawsuit accusing Fox News of spreading the damaging falsehood that the company rigged the 2020 election. The person, a Fox News representative, was forced to delete the photos and permanently exit the courtroom. The Fox representative misunderstood the courtroom rules and apologized, adding that the pictures were deleted immediately, the company told CNBC. I'm not going to give you an extra day," Davis told attorneys for both camps.

A person walks past Fox News Headquarters at the News Corporation building on May 03, 2022 in New York City. - Fox Corp. and its cable networks agreed Tuesday to pay $787.5 million to Dominion Voting Systems to settle a defamation lawsuit over false claims that Dominion's machines swayed the outcome of the 2020 presidential election. The suit by Dominion, which sells voting machines and election software, had argued that Fox News and its sister network Fox Business "intentionally and falsely" blamed Dominion for the 2020 loss of former President Donald Trump to President Joe Biden by airing unsubstantiated claims about the company. Fox had said in court filings that its hosts' statements about Dominion were protected by the First Amendment. The company also said Dominion had not shown that the statements were made with so-called actual malice, which is the threshold for civil defamation claims.

November 15, 2020 -- Fox’s daytime average audience reaches a 35% decline since the eve of the election, according to statistics cited in Dominion's lawsuit. March 26, 2021 -- Dominion sues Fox News in Delaware Superior Court. March 31, 2023 -- Davis rules that the statements aired on Fox were false, defamatory and not covered by legal protections for the press under the U.S. Constitution's First Amendment. April 12, 2023 -- Davis sanctions Fox after it was revealed that the network failed to turn over relevant recordings and transcripts until the eve of trial. April 16, 2023 -- Davis delays trial by one day without giving a reason, but two sources told Reuters that Fox and Dominion were holding last-minute settlement talks.

☆ Fox News settles Dominion's defamation lawsuit for $787.5 million over election conspiracy theories just as the trial is about to start
▼ + stars: | 2023-04-18 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

Fox News settled Dominion's defamation lawsuit over election conspiracy theories for $787.5 million. WILMINGTON, Delaware — Fox News settled Dominion Voting Systems's blockbuster defamation lawsuit just as it was about to go to trial, agreeing to pay it $787.5 million. In a press conference after Davis announced the settlement, Dominion CEO John Poulos criticized Fox for broadcasting lies about the company. Dominion first filed its lawsuit against Fox News and its parent company, Fox Corp., in March 2021. Representatives of Fox News arrive at the justice center for the Dominion Voting Systems' defamation lawsuit against Fox News, in Wilmington, Delaware.

Dominion Voting Systems' $1.6 billion civil defamation lawsuit against Fox News has been delayed on the eve of its scheduled start date, an official for the court hearing the case said Sunday. Spokespeople for Fox and Dominion did not immediately provide statements when asked for comment after the delay was announced Sunday night. Fox has argued that Dominion has not met the legal standard for defamation, and that the statements made about Dominion on its air were protected by the First Amendment. The Wall Street Journal reported earlier Sunday evening that Fox has made a last-minute push to settle the lawsuit out of court. But as recently as Saturday, the possibility of Dominion and Fox avoiding trial seemed as unlikely as ever.

☆ Fox News defamation trial will begin Tuesday, judge says, without explaining one-day delay
▼ + stars: | 2023-04-17 | by ( Marshall Cohen | ) edition.cnn.com time to read: +4 min

CNN —Delaware Superior Court Judge Eric Davis said Monday that the delay in the Fox-Dominion defamation trial “is not unusual” and told the parties that he expects them back on Tuesday to finish jury selection and start the trial. “I made the decision to delay the start of the trial until tomorrow,” Davis said in court, later adding that “it’s a six-week trial. The high-stakes defamation trial against Fox News, initially set to begin with opening statements on Monday, was abruptly delayed on Sunday evening, in an eleventh-hour twist. What to know about the high-stakes trialThe historic defamation lawsuit brought against Fox News by Dominion Voting Systems could have significant ramifications for the right-wing cable channel. But in a major blow to the right-wing network last month, the judge overseeing the case allowed it to go to trial.

☆ Fox News pushes Dominion to settle mammoth defamation lawsuit as judge delays trial, multiple sources report
▼ + stars: | 2023-04-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Fox is pushing Dominion to settle its $1.6 billion defamation lawsuit, WSJ and Reuters report. Fox made a last-minute attempt to settle the case out of court, the Wall Street Journal reported, citing people familiar with the situation. A spokesperson for Fox Corp., the parent company of Fox News, declined to comment to Insider on the record. Fox Corp. CEO Lachlan Murdoch and Chairman Rupert Murdoch. Adrian Edwards/GC ImagesIn his own messages and depositions, Fox Corp.

☆ Dominion defamation trial against Fox to proceed Tuesday after delay
▼ + stars: | 2023-04-17 | by ( Helen Coster | ) www.reuters.com time to read: +5 min

Dominion sued Fox Corp and Fox News. Rupert Murdoch, the chair of Fox Corp, is set to testify during the trial, along with a parade of Fox executives and on-air hosts, including Tucker Carlson, Sean Hannity and Jeanine Pirro. Fox's filing cited a Friday email from a Dominion lawyer saying that Dominion would not pursue its lost profit claim at the trial. Davis on Wednesday sanctioned Fox News, handing Dominion a fresh chance to gather evidence after Fox withheld records until the eve of the trial. Fox has also said that Dominion cannot pin actual malice on the individuals Dominion has said were responsible for the defamatory statements.

Fox has said Dominion cannot prove that the network knowingly spread falsehoods or recklessly disregarded the truth, the legal standard of "actual malice" that plaintiffs in defamation lawsuits must meet. Fox is now largely limited to arguing that Dominion cannot prove actual malice. Fox has called Dominion's lawsuit an assault on the free press and framed its stance in the case as a defense of journalism and diversity of ideas in the public square. Fox has attacked the credibility of Dominion's damages estimate, saying it is based upon unrealistic growth projections and faulty assumptions. An expert report commissioned by the company attributed scores of lost contracts to Fox's coverage, though much of the report remains under seal.

Wilmington, Delaware CNN —Dominion Voting Systems’ high-stakes defamation trial against Fox News, which was supposed to begin Monday, was abruptly delayed on Sunday evening, in a stunning eleventh-hour twist that threw into question whether a settlement was in the works. Opening statements were expected on Monday, but the Delaware Superior Court said in a surprise announcement that “the start of the trial” will now be Tuesday. “The Court has decided to continue the start of the trial, including jury selection, until Tuesday, April 18, 2023 at 9:00 a.m. Neither Dominion nor Fox commented on the delay Sunday. It says it was defamed by the right-wing network when Fox hosts and guests claimed in 2020 that its voting systems illegally rigged the election against Donald Trump.

☆ Dominion’s case against Fox News goes to trial next week. Is the First Amendment really on the line?
▼ + stars: | 2023-04-16 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +21 min

But even by the standards of the profession, the language in Dominion's $1.6 billion lawsuit against Fox News has been downright apocalyptic. A victory for Dominion against Fox, they say, could wreak havoc for other journalism organizations across the country. The sheer closeness between Trump and Fox News makes a case like this unlikely to harm journalism organizations down the line, Goodale said. The vast majority of defamation cases against media organizations are settled, which gives few high-profile precedents to the Dominion lawsuit. "And that's the balance that the Sullivan court strike tried to strike in 1964.

☆ What to know ahead of the Fox News and Dominion trial
▼ + stars: | 2023-04-16 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

New York CNN —A trial in a defamation suit brought against Fox News by Dominion Voting Systems is set to begin this week. Here are 5 things to know ahead of the trial. Fox was trying to block Dominion from having the Murdochs on the witness stand. Fox Corporation, the right-wing news outlet’s owner, has an estimated $4 billion in cash on hand, according to its latest earnings statement. Though major figures at Fox privately acknowledged reality – that former President Donald Trump had lost to President Joe Biden in 2020 – Fox continued to air conspiracies and lies in order to keep its large audience engaged.

☆ Fox News apologizes to judge in defamation case for failing to disclose Rupert Murdoch's role at the network
▼ + stars: | 2023-04-16 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Fox News apologized to the Delaware judge presiding over the Dominion Voting Systems' lawsuit for failing to properly define Fox Corp. Chairman Rupert Murdoch's formal role at the network, according to a letter filed with the court. "We understand the Court's concerns, apologize, and are committed to clear and full communication with the Court moving forward," Fox attorney Blake Rohrbacher wrote in the letter Friday. Dominion Voting Systems brought its defamation lawsuit against Fox and its TV networks, Fox News and Fox Business, in March 2021, arguing its hosts pushed false claims that Dominion's voting machines were rigged in the 2020 presidential election that saw President Joe Biden triumph over former President Donald Trump. Delaware Superior Court Judge Eric Davis expressed frustration with the network Tuesday for its failure to accurately disclose Murdoch's leadership role there. Fox lawyers had repeatedly claimed Murdoch did not have an official title at Fox News, only to later reveal that he serves as the Fox News Executive Chair.

Fox has argued that Dominion cherry-picked evidence to mischaracterize the network's coverage decisions, which it said were reasonable because election-rigging claims by the president's lawyers were inherently newsworthy. Fox has said it also gave Dominion's side of the story by airing its denials. The Fox Corp chairman is set to take the witness stand, along with other executives including Fox News CEO Suzanne Scott. The trial is also due to include testimony from a parade of conservative-leaning Fox hosts including Tucker Carlson, Sean Hannity and Jeanine Pirro. Fox has attacked the credibility of Dominion's damages estimate, saying it is based upon unrealistic growth projections and faulty assumptions.

☆ Dominion: Jury selection to begin in defamation trial against Fox News
▼ + stars: | 2023-04-13 | by ( Marshall Cohen | ) edition.cnn.com time to read: +3 min

Wilmington, Delaware CNN —Jury selection is set to begin Thursday in Dominion Voting Systems’ $1.6 billion defamation trial against Fox News over the right-wing network’s promotion of debunked conspiracy theories about the 2020 presidential election. The high-stakes trial — which will put a spotlight on Fox’s 2020 election denialism and the role of disinformation in American politics — is expected to last about six weeks. The case revolves around Fox’s decision, after Donald Trump’s loss in the 2020 election, to allow haywire conspiracy theories about Dominion onto its airwaves. Dominion has argued that Fox destroyed its reputation as a trusted voting technology company by repeatedly amplifying these false claims. Fox News says it didn’t defame Dominion and maintains that it is still “proud” of its 2020 election coverage.

☆ Fox News will be investigated for withholding evidence in the Dominion lawsuit, could face sanctions
▼ + stars: | 2023-04-12 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

The judge overseeing the Fox-Dominion defamation case sanctioned the network for withholding evidence. This happened the day after a disclosure that Fox lawyers withheld information about Rupert Murdoch's role at the media company. (AP) — The judge presiding over a defamation case against Fox News said Wednesday he likely will order an independent review to determine whether the network improperly withheld evidence, a step that could lead to sanctions. That came after the disclosure a day earlier that Fox lawyers had withheld critical information about the role company founder Rupert Murdoch, who is chairman of Fox. Dominion alleges that Fox damaged the company by repeatedly airing false allegations that its machines and the software they used rigged the 2020 presidential election to prevent Trump's re-election.

Delaware Superior Court Judge Eric Davis issued the sanction after Dominion's lawyers revealed instances in which Fox's attorneys did not turn over evidence in a timely manner, the Times reported. Fox said in a statement that it "produced the supplemental information" to Dominion "when we first learned it." Dominion sued Fox News and parent company Fox Corp (FOXA.O) in 2021. Grossberg said in her latest filing that she has tapes of former Trump lawyers, including Giuliani, conceding they lacked evidence for their claims. As a Fox News officer, Murdoch would likely have been subject to more probing discovery by Dominion.

☆ Dominion judge likely to appoint special master to investigate if Fox withheld evidence
▼ + stars: | 2023-04-12 | by ( Marshall Cohen | ) edition.cnn.com time to read: +2 min

This is very serious,” Delaware Superior Court Judge Eric Davis said Wednesday at a pretrial hearing in Wilmington. The special master will look into what sanctions might be appropriate against Fox, including potentially instructing jurors in the case that Fox inappropriately blocked Dominion from obtaining key evidence. The judge ordered Fox to preserve “any and all communications” related to the Murdoch issue. Fox denies wrongdoing and says it properly disclosed Murdoch’s roles in its public financial filings. Fox attorney Dan Webb said Wednesday that “nobody intentionally withheld information” from Dominion.

☆ Dominion can’t bring up January 6 at Fox News defamation trial, judge rules
▼ + stars: | 2023-04-11 | by ( Marshall Cohen | ) edition.cnn.com time to read: +5 min

Wilmington, Delaware CNN —Dominion Voting Systems can’t bring up the January 6 insurrection during its upcoming defamation trial against Fox News, a Delaware judge ruled Tuesday, who also revealed at a hearing that he has been receiving death threats. The judge ruled that Fox can’t bring up broadcasts where reporters accurately fact-checked Trump’s lies about the 2020 election, to prove that other broadcasts that amplified those lies weren’t defamatory. The judge also ruled that Fox can’t use internal Dominion emails where its staffers said their products “suck” and were “riddled with bugs,” to prove that there were real concerns about Dominion machines, and therefore Fox didn’t defame Dominion. The judge overseeing Dominion’s case against Fox News also revealed Tuesday that he has received death threats. If Dominion wins, it wants Fox to pay for the beefed-up security measures that it implemented after 2020.

Dominion asserts that Fox's top brass approved of the coverage, but the network says the evidence of high-level involvement is threadbare. The jury pool will be drawn from New Castle County, Delaware, where Democrats outnumber Republicans more than two-to-one, according to the state's Department of Elections. The network says scattered doubts about the claims among certain individuals cannot be attributed to the organization as a whole. "I think (Fox is) trying to argue that the employees themselves did not have that necessary mental state," said UNC's Papandrea. "But it's tricky when the organization itself has relevant information that would cast doubt on the veracity of the statements about Dominion."

Companies Fox Corp FollowRupert Murdoch FollowWILMINGTON, Del, April 5 (Reuters) - Fox Corp (FOXA.O) executives Rupert and Lachlan Murdoch can be called to testify at this month's defamation trial over a $1.6 billion lawsuit claiming the media company lied about voter fraud in the 2020 U.S. presidential election, a judge said on Wednesday. Rupert Murdoch, the 92-year-old chair of Fox Corp, and his son, Lachlan Murdoch, its CEO, were not on the list of witnesses that Fox intends to make available for the trial, in a case brought by Dominion Voting Systems. Davis said Fox board member Paul Ryan, a former Republican speaker of the U.S. House of Representatives, could also be issued a trial subpoena. The judge said there was an objection by Fox to Rupert Murdoch's testimony which would probably have to be resolved at trial. The trial already features a parade of Fox's biggest on-air personalities, including Tucker Carlson, Sean Hannity and Maria Bartiromo.

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