ABC News is in hot water after President Trump on Sunday encouraged a lawsuit against the media giant, after they retracted a false story on the Trump-Russia investigation one that Trump claims led to the stock market taking a hit.
“People who lost money when the Stock Market went down 350 points based on the False and Dishonest reporting of Brian Ross of @ABC News (he has been suspended), should consider hiring a lawyer and suing ABC for the damages this bad reporting has caused — many millions of dollars!” President Donald Trump wrote.
President’s call to take action against ABC News came one day after he congratulated the major news network for announcing a month suspension of Brian Ross, the reporter responsible for the false story.
“Congratulations to @ABC News for suspending Brian Ross for his horrendously inaccurate and dishonest report on the Russia, Russia, Russia Witch Hunt. More Networks and ‘papers’ should do the same with their Fake News!” President Trump wrote Saturday.
Brian Ross conveyed his thoughts on his suspension through Twitter.
“My job is to hold people accountable and that’s why I agree with being held accountable myself,” Brian Ross posted on Twitter.
Brian Ross, the chief investigative correspondent for ABC, stated during a Friday special report, that former National Security Adviser Michael Flynn was set to testify that Donald Trump had asked Michael Flynn to contact the Russians while President Trump was a presidential candidate, CNN reported.
ABC then tweeted out the report, which was reportedly retweeted roughly 25,000 times before being removed.
During Friday’s airing of “ABC World News Tonight,” Brian Ross recanted his statements made earlier in the day, stating that President Trump had told Michael Flynn to contact the Russians while he was president-elect, not as a candidate.
“It’s a major embarrassment,” an unnamed ABC News employee announced.
“It makes me cringe,” another anonymous employee added.
The Dow had already fallen more than 350 points early Friday, per CNN Money. But the market reportedly recovered later in the day.
According to Newsweek, it is highly unlikely that ABC News will be considered responsible for the stock market’s decline on Friday since stocks had already fallen after reports of Michel Flynn confessing for deceiving the FBI in regards to Russian collusion amid the 2016 election.
Still, the media giant issued a statement on the critical error made by Brian Ross.
“We deeply regret and apologize for the serious error we made yesterday,” ABC said Saturday. “The reporting conveyed by Brian Ross during the special report had not been fully vetted through our editorial standards process. As a result of our continued reporting over the next several hours ultimately we determined the information was wrong and we corrected the mistake on air and online.”
“It is vital we get the story right and retain the trust we have built with our audience — these are our core principles,” ABC News added.