Which of the following is a common remedy for defamation?

A formal public retraction of the statement is indeed a common remedy for defamation because it serves to mitigate the harm caused by the defamatory remarks. When someone makes a false statement that damages another person's reputation, a retraction helps to clarify the situation publicly, restoring the reputation of the wronged party. This remedy acknowledges the error and communicates to others that the defamatory statement was incorrect.

In many legal contexts, issuing a retraction can also demonstrate good faith on the part of the defamer, potentially reducing liability and serving as an acknowledgment that the harmful statement should not have been made. By publicly correcting the misinformation, the defamer can help to limit the negative impact of their statement and may even prevent further legal complications.

Other remedies listed, while they may have their own considerations and applications, do not typically serve the same purpose as a public retraction in addressing the immediate harm caused by defamation. A fine is punitive and does not address the issue of correcting the false information. Private negotiation, while potentially effective in resolving disputes, may not have the public impact needed to remedy defamation. An injunction may prevent further occurrences but does not rectify the initial harm done to the reputation of the affected party.