FOX Business Achieves Additional Victory in Treasury Lawsuit over Freedom of
Information Act Requests
NEW YORK -- November 29, 2012
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
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
FOX Business Media:
Irena Briganti, 212-301-3608
Caley Cronin, 212-301-3972
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