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ABC News announced Saturday that Chief Investigative Correspondent Brian Ross would be suspended for four weeks without pay over a botched "exclusive" about former national security adviser Michael Flynn.

During a live "special report" Friday morning, Ross reported that Flynn would testify that Donald Trump had ordered him to make contact with Russians about foreign policy while he was still a candidate. The report raised the specter of Trump's impeachment and sent the stock market plummeting.

Later in the day, ABC issued a "clarification" to Ross's report, saying that Trump's alleged directive came after he'd been elected president. Ross himself appeared on "World News Tonight," several hours after the initial report, to clarify his error.

In a statement, ABC News said Ross' report "had not been fully vetted through our editorial standards process."

"It is vital we get the story right and retain the trust we have built with our audience," ABC's statement added. "These are our core principles. We fell far short of that yesterday."

