Fox Biz prepares FOI lawsuit vs. SEC

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TALKING BIZ NEWS EXCLUSIVE

Fox Business Network is expected to file a lawsuit this afternoon against the Securities and Exchange Commission for failure to respond to Freedom of Information Act request.

The initial request to the SEC, filed on Feb. 26, 2009, sought all records relating to information that the SEC received regarding the potential violations of the securities laws or any other potential wrongdoing by R. Allen Stanford, or Stanford Financials Group and/or its affiliates.

This request included, but was not limited to the SEC’s response to complaints, tips or information and any resulting audits, inquiries and/or investigations.

The SEC has not responded to Fox Business, thus the lawsuit.

Fox Business has been involved in similar legal battles in the past few months. Earlier this month, it won a legal victory to force the release of documents related to New York University’s lawsuit against Bernard Madoff feeder Ezra Merkin.

And in February it won its lawsuit against the U.S. Treasury Department over failure to respond to its Freedom of Information Act requests.