(NewsNation) — One of the biggest questions following Fox’s staggering $787.5 million settlement with Dominion Voting Systems is: What will Dominion do with the money?
During an interview with NewsNation host Dan Abrams, Dominion Voting Systems attorney Davida Brook said Wednesday that Dominion employees are thankful for the settlement but did not break down exactly where the money will go.
“Many of the employees of Dominion are shareholders in the company, in this homegrown company, and they will be (participating) in the benefits of the $787 million settlement that Fox agreed to yesterday,” Brook said.
Abrams pressed: “But when you say many of the employees, that means not all of the employees.” And “shareholder return,” he added, is “a pretty small amount …; compared to the amount, for example, that Staple Street will be getting as a result of this.”
Staple Street Capital Group LLC owns Dominion. Tuesday’s Fox settlement is equivalent to 20 times the $38.3 million the small buyout firm paid in 2018 to acquire a 76.2% stake in Dominion, according to Reuters.
Staple Street’s website claims the New York-based private equity firm has $900 million in assets under management. Abrams pointed out that Dominion has roughly 250 employees.
Abrams told Brook: “You would think, again, if they’re true to their word that they would make the employees, first and foremost, the focus here and give them more than just many of them who are shareholders some sort of return.”
Brook insisted that Dominion employees are extremely pleased with the settlement.
“I can tell you that the employees of Dominion right now are just beyond thrilled and thankful for what both Mr. Poulos and Staple Street Capital have done for them,” Brook replied to Abrams. “This case has been incredibly hard fought. It’s been incredibly hard fought by literally every single person at Dominion, at Staple Street Capital, and I think they all share in the victory today.”
Abrams continued his questioning.
“I think many people take the Dominion CEO and the Staple Street managing director at face value when they talk about this being about more than just money. And I believe you that people at Dominion, the employees, are pleased with the result. But it does seem to me like there’s some obligation for more here, considering that Dominion has been wrapping itself in this flag of truth and justice and a crusade for so long,” Abrams said.
While still not detailing exactly where the settlement money will go or potentially be split, Brook told Abrams that Dominion did not settle until “the truth was revealed.”
“We put the documents in the public record, so that the public could see for itself, both the truth about Dominion and the truth about what Fox did or did not know at the time that it made the allegations about Dominion that it did,” Brook said.
The election technology company brought the $1.6 billion lawsuit against Fox stemming from the network’s reporting over the 2020 presidential election, including false claims the election was rigged. No evidence of widespread election fraud has been found in the 2020 presidential election after reviews by state and federal election officials and court challenges from Trump and his allies.
After reviewing evidence, the judge in Dominion’s case wrote last month it “is CRYSTAL clear that none of the statements relating to Dominion about the 2020 election are true.”
Dominion described the settlement as a “ringing endorsement for truth and democracy.”
Fox News issued the following statement on the settlement: “We are pleased to have reached a settlement of our dispute with Dominion Voting Systems. We acknowledge the Court’s rulings finding certain claims about Dominion to be false. This settlement reflects FOX’s continued commitment to the highest journalistic standards. We are hopeful that our decision to resolve this dispute with Dominion amicably, instead of the acrimony of a divisive trial, allows the country to move forward from these issues.”
Dominion reportedly also has cases regarding the 2020 election against Rudolph Giuliani, Sidney Powell, Mike Lindell, Newsmax and One America News Network.
Now, Fox is facing legal action from Smartmatic. The producer of voting machines is suing Fox for $2.7 billion. A judge has declined to have that case thrown out. No trial date in the suit has been set at this time.