Full Breakdown
Florida Pension Fund Sues New York Times Over Editorial Oversight
By Drooid · · How we work
Core Event: Shareholder Petition Targets Board Oversight
On September 23, the State Board of Administration of Florida (SBA) filed a 48-page petition in New York County Supreme Court on behalf of the Florida Retirement System Trust Fund, a shareholder of The New York Times Company. The petition seeks the newspaper’s internal corporate records, board-oversight minutes, and editorial-review procedures to determine whether the board has allowed “weaponized” journalistic standards that promote anti-Israel bias. The filing was made jointly with the conservative think tank National Center for Public Policy Research, which also holds Times shares.
Background & Context
Florida’s pension fund, which serves more than 1.2 million public employees, holds roughly 160,000 shares of Times stock. The fund’s trustees include Governor Ron DeSantis and Attorney General James Uthmeier, both Republicans. The lawsuit follows an August 10 demand letter from Uthmeier’s office that asked the Times to produce the same records voluntarily. Petitioners cite a series of factual errors and retractions—most notably 72 corrections in coverage of the Israel-Hamas war and an editor’s note on the Al-Ahli hospital explosion—to argue that the board has failed its fiduciary duty to shareholders. An unnamed former Times newsroom employee, who worked on the video desk for nearly a decade and raised anti-Israel bias concerns as early as 2019, is referenced in the petition.
Data & Statistics
- Assets under management: $235.7 billion (as of August 31) – the fund’s own website.
- Shareholding: Approximately 160,000 Times shares, representing a material investment for the pension fund.
- Corrections cited: 72 corrections in Israel-Hamas war coverage over an eight-month period, plus a noted reliance on Hamas claims in early reporting of the Al-Ahli hospital explosion.
Official Statements & Responses
Florida Attorney General James Uthmeier emphasized that the action is not a defamation suit but a corporate-governance matter, asserting that the board’s oversight responsibilities are being tested. The National Center for Public Policy Research’s executive director, Steve Milloy, framed the request as a safeguard for the paper’s status as a “paper of record.” Chief Rita Rodriguez of the Miami-Dade Sheriff’s Office highlighted the broader stakes, noting that pension security is a promise to public servants.
Verbatim Quotes
- “The New York Times tells its own investors that its brand and reputation are its most important assets.” — Charlie Stadtlander, Times spokesperson
- “When you are a publicly traded company... you have legal responsibilities and duties to your shareholders,” — James Uthmeier, Florida Attorney General
- “A pension is far more than a financial benefit. It is a promise,” — Chief Rita Rodriguez, Miami-Dade Sheriff’s Office
- “The question is not whether The New York Times has the right to publish controversial journalism. Of course it does,” — Steve Milloy, executive director, Free Enterprise Project
