Tuesday, July 12, 2011

News Corp. Shareholders Amend Lawsuit Amid Tabloid Scandal

News Corp. Shareholders Amend Lawsuit Amid Tabloid Scandal

The original suit focused on charges of "nepotism" relating to News Corp.'s decision to purchase the Shine production company and the amended one continues to direct such claims at Rupert Murdoch. "Officer and controlling shareholder -- habitually uses News Corp. to enrich himself and his family members at the Company's and its public shareholders' expense," the suit reads. "Plaintiffs bring this shareholder derivative and class action because recent self-interested transactions and revelations about News Corp.'s operations giving rise to this action are the proverbial straws that break the camel's back."

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