There are many versions of the story, but the basic premise is that a chicken eats lunch one day, and believes the sky is falling down because an
acorn falls on her head. She decides to tell the King, and on her journey meets other animals who join her in the quest.
In most retellings, the animals all have rhyming names such as Henny Penny, Cocky Lockey and Goosey Loosey. Finally, they come across Foxy Loxy, a
fox who offers the chicken and her friends his help.
After this point, there are many endings. In the most famous one, Foxy Loxy eats the chicken's friends, but the last one, usually Cocky Lockey, survives long enough to warn the chicken and she escapes. Other endings include Foxy eating them all.
In other versions the moral is usually interpreted to mean "do not believe everything you are told". In the latter case, it could well be a cautionary tale.
The Chicken jumps to a conclusion and whips the populace into mass hysteria, which the unscrupulous fox uses to manipulate them for his own benefit, some times as supper.
Sound familiar? I think some of you would do well to re-read the story and learn the moral.