Smartmatic Accused of Using Litigation to Attract Investors
Fox Corp and Smartmatic are currently engaged in a $2.7 billion defamation lawsuit. In the midst of the legal battle, Fox has filed a court document claiming that Smartmatic is using the litigation to entice investors. Smartmatic had accused Fox of damaging its business prospects through debunked reporting on fraud in the 2020 presidential election. Fox is not only defending its reporting, but also counterclaiming that Smartmatic is attempting to suppress free speech by seeking billions of dollars in damages.
Fox’s Need for Documents and Testimony
In recent filings, Fox argued that it requires documents and testimony from Smartmatic advisers in the U.K. to support its counterclaim. These advisers, according to Fox, can provide insight into Smartmatic’s valuation and its claim for damages. Fox believes that the U.K. witnesses will be instrumental in refuting Smartmatic’s assertions.
Suspicions of Investor Attraction
Fox further alleges that Smartmatic has been using its litigation against Fox to attract investors. The London-based investment firm, Portman Global Partners, is accused of actively seeking investors based on Smartmatic’s lawsuit against Fox. Fox aims to subpoena documents from Portman and obtain testimony from Portman director Prashant Francis. Although Fox provides limited evidence to support its claim, it references an email from Francis to Smartmatic’s CEO mentioning a teaser that Portman had created for Smartmatic, which allegedly attracted interest from undisclosed SPACs.
Smartmatic Lawyer Denies Allegations
Smartmatic’s lawyer, Erik Connolly, has firmly denied Fox’s accusations. He states that Fox’s claim that Smartmatic used Portman to lure investors is factually incorrect. Connolly did not comment on whether Smartmatic will oppose Fox’s attempts to subpoena Portman and Francis.
Fox’s Pursuit of Outside Investors
Fox has long suspected that Smartmatic has outside investors supporting its case. In the past, Fox had attempted to force Smartmatic to disclose any litigation funding it had received, but was unsuccessful. Fox now seeks to depose Mark Malloch-Brown, a former U.N. deputy secretary-general who was the chair of Smartmatic’s parent company. Malloch-Brown is currently the president of George Soros’ Open Society Foundations. Fox aims to question him about any ties between Smartmatic and Soros. It also seeks documents directly from Soros and Open Society.
In conclusion, Fox Corp is continuing its legal battle with Smartmatic, accusing the company of using the lawsuit as a means to attract investors. Smartmatic denies these allegations. Fox is also targeting Mark Malloch-Brown and his connections to George Soros, as it believes there may be a link between Smartmatic and Soros.
Read More of this Story at www.reuters.com – 2023-09-29 09:35:00
Read More US Media News
