Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Home
Business
Business Home
Economy
Technology
Media
Small Business
Legal
Deals
Earnings
Social Pulse
Business Video
The Freeland File
Aerospace & Defense
Markets
Markets Home
U.S. Markets
European Markets
Asian Markets
Global Market Data
Indices
M&A
Stocks
Bonds
Currencies
Commodities
Futures
Funds
peHUB
World
World Home
U.S.
Brazil
China
Euro Zone
Japan
Mexico
Russia
India Insight
World Video
Reuters Investigates
Decoder
Politics
Politics Home
Election 2012
Campaign Polling
Political Punchlines
Supreme Court
Politics Video
Tech
Technology Home
MediaFile
Science
Tech Video
Tech Tonic
Social Pulse
Opinion
Opinion Home
Chrystia Freeland
John Lloyd
Felix Salmon
Jack Shafer
David Rohde
Nader Mousavizadeh
Lucy P. Marcus
David Cay Johnston
Bethany McLean
Anatole Kaletsky
Reihan Salam
Edward Hadas
Hugo Dixon
Ian Bremmer
Lawrence Summers
Susan Glasser
The Great Debate
Steven Brill
Jack & Suzy Welch
Frederick Kempe
Christopher Papagianis
Mark Leonard
Breakingviews
Equities
Credit
Private Equity
M&A
Macro & Markets
Politics
Breakingviews Video
Money
Money Home
Tax Break
Lipper Awards 2012
Global Investing
MuniLand
Unstructured Finance
Linda Stern
Mark Miller
John Wasik
James Saft
Analyst Research
Alerts
Watchlist
Portfolio
Stock Screener
Fund Screener
Personal Finance Video
Money Clip
Investing 201
Life
Health
Sports
Arts
Faithworld
Business Traveler
Entertainment
Oddly Enough
Lifestyle Video
Pictures
Pictures Home
Reuters Photographers
Full Focus
Video
Reuters TV
Reuters News
Article
Comments (0)
Full Focus
Editor's choice
Our best photos from the last 24 hours. Full Article
Images of August
Follow Reuters
Facebook
Twitter
RSS
YouTube
Read
Cartoons in French weekly fuel Mohammad furor
3:58pm EDT
Study on Monsanto GM corn concerns draws skepticism
12:58pm EDT
Richest Americans' net worth jumps to $1.7 trillion: Forbes
3:08pm EDT
Analysis: NATO pullback heightens doubts about Afghan strategy
|
18 Sep 2012
Analysis: Despite his rhetoric, Romney needs the "47 percent" to win
2:55pm EDT
Discussed
267
New video shows Romney saying Palestinians don’t want peace
123
U.S. embassies attacked in Yemen, Egypt after Libya envoy killed
118
Romney derides Obama supporters in hidden camera speech
Sponsored Links
Pictures
Reuters Photojournalism
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption
Never too old
A look at seniors living life and proving that "you are as young as you feel." Slideshow
Lindsay Lohan's woes
Lindsay Lohan was arrested for leaving the scene of an accident in lower Manhattan. Slideshow
News Corp investors press to keep hacking lawsuit alive
Tweet
Share this
Email
Print
Related News
U.S. judges to decide venue for Facebook lawsuits
2:03pm EDT
REFILE-UPDATE 2-News Corp nominates former Colombian president to board
Tue, Sep 4 2012
Citigroup settles shareholder CDO lawsuit for $590 million
Wed, Aug 29 2012
Delaware court affirms $2 billion Southern Copper judgment
Mon, Aug 27 2012
Elisabeth Murdoch denies she wants top News Corp job
Fri, Aug 24 2012
Analysis & Opinion
Murdoch’s reformation stops with governance
Open courts healthy for Delaware and dealmakers
Related Topics
World »
News Corp Chairman and CEO Rupert Murdoch gestures as he speaks at the ''The Economics and Politics of Immigration'' Forum in Boston, Massachusetts August 14, 2012.
Credit: Reuters/Jessica Rinaldi
By Tom Hals
DOVER, Delaware |
Wed Sep 19, 2012 5:03pm EDT
DOVER, Delaware (Reuters) - Lawyers for News Corp investors asked a U.S. judge on Wednesday to force the media company's board to face a lawsuit over a phone hacking scandal, while a defense lawyer said board members should be protected from second-guessing by shareholders.
News Corp shareholders argue that Chief Executive Rupert Murdoch and the board of directors, including two of his sons, should be held responsible for damage from the scandal. In their lawsuit, the investors say the board refused to investigate the hacking allegations because the directors sought to protect Murdoch's interests.
Since the breadth of the phone hacking and bribery scandal came to light in 2009, more than 50 people have been arrested, including a British police officer and two journalists from The Sun tabloid on Wednesday.
Facing a public backlash over the scandal, which included allegations of hacking of the phones of crime victims by journalists, Murdoch shuttered one of his tabloids, the News of the World, in July 2011. The scandal also cost New Corp a deal for full control of the BSkyB satellite business.
The investor lawsuit was filed in Delaware's Court of Chancery, the forum for many U.S. shareholder legal disputes.
The board of News Corp, which owns the Wall Street Journal as well as the Fox TV and studio business, wants an early dismissal of the case before the defendants are required to provide evidence to shareholders. If the case survives a motion to dismiss, it could become a bigger headache for board members, exposing them to depositions by the shareholders lawyers and possibly embarrassing revelations.
A lawyer for the board, Greg Varallo, told Chancery Judge John Noble at a hearing in Dover that the board has cooperated with official investigations and should not have to face the shareholder allegations.
Shareholders originally sued the board last year for allegedly overpaying for Shine Group Ltd in 2011, a TV production company majority owned by Murdoch's daughter Elisabeth. News Corp bought the company for $670 million. The lawsuit was later amended to include the claims stemming from the hacking scandal.
In trying to show the board is beholden to the Murdoch family, Mark Lebovitch, the co-lead plaintiffs attorney from Bernstein Litowitz Berger & Grossmann, noted that Elisabeth was attending News Corp board meetings before the Shine deal was announced.
"News Corp board meetings are not a place for 'bring your daughter to work day'," Lebovitch said. "That's not normal."
The comment prompted a reply from the Varallo, the board's attorney, who detailed Elisabeth's experience in creating Shine, which produced the hit "The Office" television series.
Noble did not say at the end of the three-hour hearing when he would rule.
Under the corporate law of Delaware, shareholders will have to prove the board was too conflicted to deal with the hacking scandal, or chose to ignore red flag warnings.
The Delaware case isn't the only pending shareholder case over the hacking scandal. On Tuesday, U.S. District Judge Paul Gardephe in Manhattan declined a request by the News Corp board to stay a nearly identical lawsuit in his court in favor of the Delaware case.
Gardephe found the case in his court included federal claims and two additional defendants that are not included in the Delaware lawsuit.
(Reporting by Tom Hals in Dover, Del.; Editing by Prudence Crowther and Andre Grenon)
World
Related Quotes and News
Company
Price
Related News
Tweet this
Link this
Share this
Digg this
Email
Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (0)
Be the first to comment on reuters.com.
Add yours using the box above.
Edition:
U.S.
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
Back to top
Reuters.com
Business
Markets
World
Politics
Technology
Opinion
Money
Pictures
Videos
Site Index
Legal
Bankruptcy Law
California Legal
New York Legal
Securities Law
Support & Contact
Support
Corrections
Connect with Reuters
Twitter
Facebook
LinkedIn
RSS
Podcast
Newsletters
Mobile
About
Privacy Policy
Terms of Use
AdChoices
Copyright
Our Flagship financial information platform incorporating Reuters Insider
An ultra-low latency infrastructure for electronic trading and data distribution
A connected approach to governance, risk and compliance
Our next generation legal research platform
Our global tax workstation
Thomsonreuters.com
About Thomson Reuters
Investor Relations
Careers
Contact Us
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.