When Staple Street Capital invested in Dominion Voting Systems in 2018, the New York private-equity firm foresaw potential risks if the company’s voting machines malfunctioned. It didn’t imagine Dominion would be falsely accused of helping to rig a presidential election.
Dominion this week reached a $787.5 million settlement in its defamation suit against Fox News parent Fox Corp. over the network’s 2020 broadcasts that amplified false election-fraud charges. The settlement is a windfall for Staple Street, which paid $38 million for a 76% stake in the business through two private-equity funds.
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