“We have no choice,” Antonio Mugica, the chief executive and founder of Smartmatic, told CNN Business in an interview about the company’s decision to file the lawsuit. “The disinformation campaign that was launched against us is an obliterating one. For us, this is existential, and we have to take action.”

The lawsuit, filed in New York state court, accused Fox, Giuliani, Powell and hosts Lou Dobbs, Maria Bartiromo, and Jeanine Pirro of intentionally lying about Smartmatic in an effort to mislead the public into the false belief that the 2020 presidential election was stolen from former President Donald Trump.

“They needed a villain,” the lawsuit said. “They needed someone to blame. They needed someone whom they could get others to hate. A story of good versus evil, the type that would incite an angry mob, only works if the storyteller provides the audience with someone who personifies evil.”

“Without any true villain, defendants invented one,” the lawsuit added. “Defendants decided to make Smartmatic the villain in their story.”

UPDATE: Statement from FOX News Media:

“FOX News Media is committed to providing the full context of every story with in-depth reporting and clear opinion. We are proud of our 2020 election coverage and will vigorously defend this meritless lawsuit in court.”