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In the latest lawsuit against the company, a Fox Corp shareholder alleges Chairman Rupert Murdoch and four other board members failed to prevent Fox News from reporting falsehoods about the 2020 US presidential election. The lawsuit was filed by shareholder Robert Schwarz in Delaware Chancery Court and claims that the directors breached their duties to ensure Fox followed its own ethical standards and avoided reputational risk. Schwarz alleges that the board prioritized short-term ratings and market share over the truth, and that this has led to defamation claims against Fox by two voting technology companies, Dominion Voting Systems and Smartmatic USA, seeking damages totaling $4 billion.

The lawsuit seeks damages for the company from Rupert Murdoch, his son and Fox Chief Executive Lachlan Murdoch, and fellow directors Chase Carey, Roland Hernandez, and Jacques Nasser. It also seeks unspecified corporate governance reforms. Schwarz accuses the board of failing to act on "red flags" and putting the network in danger of defamation claims. The trial in the Dominion case is scheduled to begin in Delaware Supreme Court with opening statements on Monday and is expected to last five weeks.

The allegations in this lawsuit are serious and could have significant implications for Fox Corp. The case could further damage the reputation of Fox News, which has already been criticized for its coverage of the 2020 election. The lawsuit highlights the importance of corporate governance and ethical standards, particularly in the media industry. Companies must prioritize telling the truth and avoid spreading misinformation, even if it means sacrificing short-term ratings and market share.

It remains to be seen how this lawsuit will be resolved, but it is clear that Fox Corp will need to address the concerns raised by the shareholder. The company should take steps to ensure that its news reporting is based on facts and that it follows its own ethical standards. This will help to protect the reputation of the company and its shareholders, and ensure that it remains a trusted source of news and information for its viewers.