News Corp investors sue over hacking
Thursday 20 September 2012
News Corp shareholders yesterday went before a US court to sue the firm's board for failing to stop the phone-hacking scandal.
The lawsuit against Rupert Murdoch, his sons Lachlan and James, and the rest of the company's board is before Delaware judge, John Noble. News Corp is attempting to have the case dismissed. The shareholders, including America's Amalgamated Bank, claim News Corp executives put their own interests ahead of shareholders' and treated the company as a "family candy jar".
"Given all the publicity around the hacking scandal there is a greater possibility than usual that the court will not dismiss the case," said Jay Brown, a professor at Denver's Sturm College of Law. He added: "However, the odds are on dismissal."
there's more of a shot," Mr Elson told the Guardian yesterday.
News Corp is under investigation by the US Justice Department under the Foreign Corrupt Practices Act which can impose heavy fines on US firms found to have bribed foreign officials.
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