June 6, 2000 -- Friedman Kaplan is representing James J. Cramer, a co-founder of TheStreet.com, in counterclaims against Fox News. Cramer alleges that Fox News invented new policies that it applied only to him which made it impossible for Cramer to appear on Fox's "TheStreet.com" program, thus freeing Cramer, a hedge fund manager and financial commentator, to appear on other television networks.

The dispute between Fox News and Cramer arose on April 26, 2000 when Fox News publicly criticized Cramer for violating Fox News policy. After Cramer, a major shareholder of TheStreet.com, opined on the market price of TheStreet.com on the April 15 "TheStreet.com" program, Fox News stated that even with "full disclosure of [an] ownership position, we do not approve the touting of stock for personal gain on the air." In counterclaims, Cramer asserts that Fox News failed to enforce this policy against Rupert Murdoch, Chairman and CEO of News Corporation Limited, the parent of Fox News, who touted News Corporation stock on the Fox News Network in February 2000. Cramer's counterclaims allege that the announcement of the Fox News policy made it impossible for Cramer to appear on the program due to his ownership of numerous stocks as a hedge fund manager.

Friedman Kaplan partners Eric Seiler and Paul J. Fishman are representing Cramer in the litigation, which is in New York state court.