Q: Is network news liable to a viewer/investor/voter if they entered into any contracts based on inaccurate media coverage?
Basically if CNN reported false information or shielded information from the public throughout the course of the election while voters selected candidates and investors selected stocks; would CNN be liable? Could they still be liable for misleading the public in the first place or even election rigging?
A: No. Fraud requires an intention to defraud, knowingly false statements and a duty of care to the other party. Largely the same for securities law purposes. News media are supposed to be accurate but do not have a legal obligation to investors, voters or even viewers.
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