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News Corp Shareholders File Lawsuit

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A lawsuit has be filed in Delaware Chancery Court by News Corp shareholders saying that the media company knew more than 10 years ago that U.S. subsidiaries News America Marketing and NDS Group were illegally hacking into competitor computers.

According to the Vancouver Sun, the plaintiffs are lead by a trustee for several investment funds, the new Orleans Employees’ Retirement System and Central Laborers Pension Fund.

The lawsuit says that “For more than a decade, News Corp subsidiaries have engaged in highly improper practices that have subjected News Corp to great financial and reputational damage.” It also said that the News Corps board did not “life a finger” to provide oversight to Rupert Murdoch, even after it was warned about illegal business practices.

The lawsuit seeks unspecified damages from the company’s top manager and directors. disclaimer: This article: News Corp Shareholders File Lawsuit was posted on Wednesday, September 14th, 2011 at 7:52 pm at and is filed under Fraud Lawsuits.

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