This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

FOX Business Achieves Additional Victory In Treasury Lawsuit Over Freedom Of Information Act Requests

Stocks in this article: NWS NWSA

FOX Business Network (FBN) has achieved another victory in its lawsuit against the United States Treasury Department over documents that the Treasury improperly withheld in response to FBN’s Freedom of Information Act (FOIA) requests, announced Kevin Magee, FBN Executive Vice President.

The decision was delivered earlier this week by United States Magistrate Judge Frank Maas, who ordered the Treasury to release the documents it had withheld regarding the bailout of American International Group (AIG). The records include internal communications among Treasury officials discussing AIG bonuses, media requests, dealings with Congress, and investor relations. Judge Maas has scheduled a telephone conference for December 3 rd to discuss the case followed by a scheduling of the document delivery date.

In making the announcement, Magee said “This is another proud day for FOX Business as we once again have earned a victory for the American public in the fight for enhanced transparency.”

The FOIA requests were filed in March 2009 and followed Treasury’s announcement of a third stage of its bailout of AIG in the amount of $150 billion.

Two earlier requests, filed in 2008, sought actual data on the use of the bailout funds for AIG, Bank of New York Mellon and Citigroup, Inc. FBN had been asking for the Treasury Department to identify, among other issues, the troubled assets purchased, any collateral extended, and any restrictions placed on these financial institutions for their participation in this program. In 2009 Judge Maas ruled in favor FBN on the 2008 FOIA requests, ordering the Treasury to release documents regarding their decision to keep AIG from going into bankruptcy. The FOIA complaint was filed by FOX News Network, LLC, as owner of FBN.

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York—the business capital of the world—FBN launched in October 2007 under the leadership of FOX News Chairman & CEO Roger Ailes and is now available in more than 60 million homes in major markets across the United States. Owned by News Corp, the network has bureaus in Chicago, Los Angeles, Washington, DC and London. On the web at www.foxbusiness.com

For more information, please go to www.foxbusiness.com/mediarelations



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs