“What Paul Ryan said is an invitation to a shareholder lawsuit,” says Nell Minow, vice-chair of ValueEdge Advisors, and a longtime shareholder rights advocate. Former House Speaker Ryan, a member of the NewsCorp board, repeatedly voiced his concern internally about the direction Fox News had taken by pushing 2020 election lies, but told an interviewer that he did not think it was his responsibility to do more.
That’s not correct, says Minow, “When insiders (like Rupert Murdoch and his son, Lachlan) have such control, it’s more important for outside directors (like Ryan) to meet privately and push back.”
Make Fox News’ Board Pay a Price for the Network’s Big Lies