Fox News has found itself facing yet another lawsuit regarding its false election coverage after losing hundreds of millions of dollars to Dominion Voting Systems last April. The conservative network is also facing lawsuits from a former producer, as well as Smartmatic.

According to Forbes, this latest lawsuit against Fox News came from New York City's pension funds and Oregon. The lawsuits accused the network's board of repeatedly broadcasting false information about the 2020 presidential election. These lawsuits might deal yet another big blow to the network as it could reduce its shareholder value.

The lawsuit also stated that Fox Corp, which owns Fox News, made "no good-faith efforts to monitor for or mitigate defamation risk." It was noted in the court filing that Fox News's business model was based on promoting false claims.

Company Shareholders Are the Plaintiffs in This Latest Lawsuit Vs. Fox News

The Fox Corp board of directors reportedly also "took a massive risk in pursuing profits by perpetuating and peddling known falsehoods." The state is representing the Oregon Public Employee Retirement Fund, which holds over 225,000 shares of Fox stock worth approximately $5.2 million.

As for the New York City pension funds, it held about 857,000 shares of Fox stock, which was valued at $28.1 million. It seeks to have "governance and ethics reforms" at the embattled media company.

New York City Comptroller Brad Lander stated in an interview that "Fox's board blatantly disregarded the need for journalistic standards and failed to put safeguards in place despite having a business model that invites defamation litigation."

READ MORE: Ex-Donald Trump Lawyer Jenna Ellis Admits to Lying in 2020 Election Fraud Claims

The Associated Press reported that New York City's pension funds are long-term shareholders of Fox Corporation, and so is the Oregon Public Employee Retirement Fund. Both have not yet revealed how much they are seeking from the company, though.

However, both plaintiffs have made it clear that they are suing because of the network's decision to broadcast former President Donald Trump's election misinformation, even though many within the company knew his claims were false.

"Defendants chose to invite robust defamation claims, with potentially huge financial liability and potentially larger business repercussions, rather than disappoint viewers of Fox News," stated the lawsuit.

Fox News Hosts Knew They Were Lying to Their Audience

The new lawsuit stemmed from the Dominion lawsuit, where it came out that Fox News hosts were privately trashing Donald Trump and making fun of his claims that the election was stolen. The voting company managed to get its hands on private messages from hosts like Tucker Carlson, Laura Ingram, and Sean Hannity and used these private conversations against them.

As Latin Post previously reported, Tucker Carlson privately admitted he hated Donald Trump, while Ingram and Hannity expressed their disbelief at what Trump lawyers Rudy Giuliani and Sidney Powell were saying.

"I don't think there is evidence of voter fraud that swung the election," said producer Alex Pfeiffer to Tucker Carlson, while the now-former Fox News host stated, "The software s--t is absurd."

READ MORE: Fox News Has a Secret Dossier on Tucker Carlson 

This article is owned by Latin Post.

Written by: Rick Martin

WATCH: Oregon sues FOX News parent company over investment losses due to election falsehoods - KGW News